sebi:ORDER/GR/RR/2020-21/9848
Facts / Headnote
Show Cause Notice disposed of; allegations not established; no penalty imposed
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 12
- s. 15H
- s. 15J
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(a)
- SEBI (PFUTP) Regulations, 2003 — 3(b)
- SEBI (PFUTP) Regulations, 2003 — 3(c)
- SEBI (PFUTP) Regulations, 2003 — 3(d)
- SEBI (PFUTP) Regulations, 2003 — 4(1)
Parties
- Adesh Jain
Holding
The allegations against Adesh Jain for violation of Section 12A(a), (b) and (c) of the SEBI Act, 1992 read with Regulations 3(a), (b), (c) & (d) and 4(1) of the SEBI PFUTP Regulations, 2003 were not established, and he was not liable for any monetary penalty under Section 15HA of the SEBI Act.
Full text
Adjudication Order w.r.t. Adesh Jain in the matter of M/s. MPS Infotecnics Ltd. Page 2 | 16 March 31, 2008) lying in its account with BANCO as contingent liability in its financial statements for the financial year 2007-08.
Adjudication Order w.r.t. Adesh Jain in the matter of M/s. MPS Infotecnics Ltd. Page 3 | 16 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order w.r.t. Adesh Jain in the matter of M/s. MPS Infotecnics Ltd. Page 4 | 16 a) SEBI had conducted investigation during November 01, 2007 to December 31, 2007 regarding the issuance of Global Depository Receipts (hereinafter referred to as “GDRs”) by M/s. MPS Infotecnics Ltd. It was observed that M/s. MPS Infotecnics Ltd. issued 46,54,762 Global Depository Receipts (GDRs) (US$9.99 Million, approximately Rs.39.42 Crores) on December 04, 2007. Summary of GDRs issued by M/s. MPS Infotecnics Ltd is as under:
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