sebi:JJ/AK/AO-41-70/2015
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Facts / Headnote
Violation established; total monetary penalty imposed jointly and severally
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 6
- Reg. 11
- Reg. 199
- Reg. 8
- Reg. 11(1)
- Reg. 8(2)
- Reg. 7(2)
- Reg. 8(1)
- Reg. 35
Holding
The 30 Noticees, as erstwhile promoters/persons acting in concert of Kailash Auto Finance Limited, violated regulation 8(1) & 8(2) of SAST Regulations, 1997 for 1998-2010 and regulation 7(1A) read with 7(2) for the 2009 acquisition, and are jointly and severally liable for Rs.20,00,000 penalty under section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Kailash Gupta & Others in the matter of M/s Kailash Auto Finance Limited Page 2 of 21 March 17, 2015 21 Anubha Gupta AAXPG9710A JJ/AK/AO/61/2015 22 Mittar Sen Goel ABZPG6407B JJ/AK/AO/62/2015 23 Angoori Devi ACWPD3533F JJ/AK/AO/63/2015 24 Ashok Goel ACKPG3719L JJ/AK/AO/64/2015 25 Mohit Goel AHKPG5485E JJ/AK/AO/65/2015 26 Rita Goel ACZPG0616R JJ/AK/AO/66/2015 27 Pratima Goel ADEPG8720A JJ/AK/AO/67/2015 28 Babulal Nema Not Available JJ/AK/AO/68/2015 29 Bhaiya Lal Shukla Not Available JJ/AK/AO/69/2015 30 Gaurishankar Agarwal Not Available JJ/AK/AO/70/2015
Adjudication Order in respect of Kailash Gupta & Others in the matter of M/s Kailash Auto Finance Limited Page 3 of 21 March 17, 2015 No.4"), Commercial Instalments Pvt. Ltd. (Now known as "Commercial Auto Dehradun Pvt. Ltd.") (hereinafter referred to as "CIPL" / "Noticee No.5"), Commercial Motors Finance Ltd. (Now known as "Commercial Motor Sales Pvt. Ltd.") (hereinafter referred to as "CMFL" / "Noticee No.6"), Kailash Auto Builders Ltd. (hereinafter referred to as "KABL" / "Noticee No.7"), Kailash Motors Ltd. (hereinafter referred to as "KML" / "Noticee No.8"), Kailash Motors Finance Pvt. Ltd. (hereinafter referred to as "KMFL" / "Noticee No.9"), Shivam Motors Pvt. Ltd. (hereinafter referred to as "SMPL" / "Noticee No.10"), Tirupati Services Ltd. (hereinafter referred to as "TSL" / "Noticee No.11"), Kailash Chand Gupta (hereinafter referred to as "KCG" / "Noticee No.12"), Ishwar Chandra (hereinafter referred to as "Ishwar" / "Noticee No.13"), Ishwar Chandra Gupta HUF (hereinafter referred to as "Ishwar HUF" / "Noticee No.14"), Atul Goel (hereinafter referred to as "Atul" / "Noticee No.15"), Raghav Gupta (hereinafter referred to as "Raghav" / "Noticee No.16"), Kailash Chand Gupta HUF (hereinafter referred to as "KCG HUF" / "Noticee No.17"), Rekha Gupta (hereinafter referred to as "Rekha" / "Noticee No.18"), Vineet Chandra (hereinafter referred to as "Vineet" / "Noticee No.19"), Shalini Gupta (hereinafter referred to as "Shalini" / "Noticee No.20"), Anubha Gupta (hereinafter
Adjudication Order in respect of Kailash Gupta & Others in the matter of M/s Kailash Auto Finance Limited Page 4 of 21 March 17, 2015 and regulation 7(1A) read with regulation 7(2) of SAST Regulations, 1997 read with regulation 35 of SAST Regulations, 2011 and therefore, liable for monetary penalty under section 15A(b) of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the ‘SEBI Act’).
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Source: SecMarx — sebi:JJ/AK/AO-41-70/2015. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.