sebi:KBL/SVS/AO/DRK/AS/EAD-3/112/09-14/2010
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Facts / Headnote
Penalty of Rs. 25,00,000 imposed on Shri Vikas Sheth under Section 15HA of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 11B
- s. 15H
- s. 15J
Regulations
- Reg. 3
Parties
- Shri Vikas Sheth
Holding
The noticee, as Additional Director of Kolar Biotech Ltd., violated Regulations 3, 4(1), 4(2)(f), 4(2)(k) and 4(2)(r) of the SEBI PFUTP Regulations, 2003 and is liable to a penalty of Rs. 25,00,000 under Section 15HA of the SEBI Act, 1992.
Full text
Page 2 of 17 2. Further, SEBI, vide its interim order dated September 30, 2004, had issued 11B directions restraining 58 entities who are either promoters, directors, major shareholders of KBL, Adam Comsof Ltd. (ACL) and Soundcraft Industries Ltd. (SIL) or major sellers in the said scrips and the entities related to them, from buying, selling or dealing in any other manner in the shares of KBL, ACL and SIL till the investigations are completed. Shri Vikas Sheth (noticee) was also one of the persons against whom the directions under Section 11B was issued.
Page 3 of 17 March 4, 1999 and on February 4, 2000 on Central Depository Services (India) Ltd. [hereinafter referred to as ‘CDSL’].
Page 4 of 17 referred to as SEBI PFUTP Regulations) alleged to have been committed by the noticee. SHOW CAUSE NOTICE, HEARING AND REPLY
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Source: SecMarx — sebi:KBL/SVS/AO/DRK/AS/EAD-3/112/09-14/2010. 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.