sebi:ORDER/PM/RR/2019-20/7064
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Facts / Headnote
Violation established; penalty of Rs. 1,00,000 imposed under Section 15HB of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 12(1)
- Reg. 199
- Reg. 12
Parties
- Sethi Ravi Praduman
Holding
The Noticee, as Non-executive Director of Alexander Stamps and Coin Limited during September 10, 2014 to October 8, 2014, violated Regulation 12(1) read with Clause 1.2 of Schedule 1, Part A of PIT Regulations, 1992 read with Regulation 12 of PIT Regulations, 2015 by failing to frame and implement the Code of Conduct, and is liable to a monetary penalty of Rs. 1,00,000 under Section 15HB of the SEBI Act, 1992.
Full text
Adjudication Order against Sethi Ravi Praduman in the matter of Alexander Stamps and Coin Limited Page 2 | 11 violation of Regulation 12(1) read with Clause 1.2 of Schedule 1, Part A of PIT Regulations, 1992 read with Regulation 12 of PIT Regulations, 2015 by the Noticee.
Adjudication Order against Sethi Ravi Praduman in the matter of Alexander Stamps and Coin Limited Page 3 | 11 e) As per provisions of Schedule I (Part A) of SEBI (PIT) Regulations, 1992, the Compliance officer shall be responsible for the implementation of Code of conduct under the overall supervision of the Board of the listed company. f) The Noticee, being a director of the Company, had failed to ensure the implementation of the Code of Conduct as required under SEBI (PIT) Regulations, 1992. Therefore, the Noticee has been alleged of violation of Regulation 12(1) read with Clause 1.2 of Schedule 1, Part A of SEBI (PIT) Regulations, 1992 read with Regulation 12 of SEBI (PIT) Regulations, 2015.
Adjudication Order against Sethi Ravi Praduman in the matter of Alexander Stamps and Coin Limited Page 4 | 11 f) I have unblemished and impeccable track record. I have not indulged in any manipulative, fraudulent and unfair trade practice. g) Request to provide opportunity for personal hearing be given before any
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Source: SecMarx — sebi:ORDER/PM/RR/2019-20/7064. 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.