sebi:ORDER/SS/SK/2019-20/6501-6512
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Facts / Headnote
Penalty of Rs. 25,00,000 imposed jointly and severally under Section 15D(a) for operating unregistered CIS; allegation of fresh mobilization under Regulation 4(2)(t) of PFUTP Regulations not established.
Provisions invoked
- s. 11A
- s. 11
- s. 24
- s. 15
- s. 12
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
- s. 15D
- s. 30
- s. 11l
Regulations
- Reg. 65
- Reg. 3
- Reg. 4
- Reg. 9
- Reg. 4(2)
- Reg. 4(2)(t)
Parties
- Peers Allied Corporation Limited
- Mr. Alok Tripathi
- Mr. Sandeep Kumar Mishra
- Mr. Shailesh Kumar Upadhyay
- Mr. Vishwambher Nath Dubey
- Mr. Durga Prasad Dubey
- Mr. Anup Aggarwal
- Mr. Ashish Kumar Tripathi
- Ms. Indu Dubey
- Ms. Manju Upadhyay
- Mr. Ajay Kumar Pandey
- Mr. Sadhu Sharan
Holding
The Noticees operated plans/schemes in the nature of CIS without SEBI registration in violation of Section 12(1B) and Regulation 3 of the CIS Regulations, attracting penalty under Section 15D(a). A joint and several penalty of Rs. 25 lakh was imposed, while the charge of post-September 2013 mobilization under Regulation 4(2)(t) of the PFUTP Regulations was not established.
Full text
_________________________________________________________________________________________ Adjudication Order in respect of twelve entities in the matter of Peers Allied Corporation Limited Page 2 of 16 (File No.: EAD-2/SS/SK/84/192-203/2019-20)
_________________________________________________________________________________________ Adjudication Order in respect of twelve entities in the matter of Peers Allied Corporation Limited Page 3 of 16 (File No.: EAD-2/SS/SK/84/192-203/2019-20)
_________________________________________________________________________________________ Adjudication Order in respect of twelve entities in the matter of Peers Allied Corporation Limited Page 4 of 16 (File No.: EAD-2/SS/SK/84/192-203/2019-20)
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Source: SecMarx — sebi:ORDER/SS/SK/2019-20/6501-6512. 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.