sebi:ORDER/VV/NK/2020-21/9092
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Facts / Headnote
Adjudication proceedings abated without going into the merits of the case
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 3
Parties
- Late Badami Devi Khandelwal
Holding
The adjudication proceedings initiated against the deceased Noticee, Late Badami Devi Khandelwal, are abated without going into the merits of the case, and no penalty is imposed.
Full text
Adjudication Order in the matter of dealings in Ill-liquid Stock Options at BSE Page 2 of 4 1992, (hereinafter referred to as “SEBI Act”) read with Section 15-I (1) of the SEBI Act and Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “Adjudication Rules”) to conduct adjudication proceedings inter-alia in respect of the Noticee, in the manner specified under Rule 4 of the Adjudication Rules read with Section 15-I (1) and (2) of the SEBI Act, and if satisfied that penalty is liable, to impose such
Adjudication Order in the matter of dealings in Ill-liquid Stock Options at BSE Page 3 of 4 the SCN against her and drop further proceedings initiated against her. In this regard, a notarised copy of the death certificate of the Noticee was also submitted alongwith the said letter by her son.
Adjudication Order in the matter of dealings in Ill-liquid Stock Options at BSE Page 4 of 4 11. Thus, In accordance with the law, the present Adjudication proceedings initiated against the Noticee viz. Late Badami Devi Khandelwal, vide the SCN No. SEBI/HO/EAD/EAD3/JS/DJ/OW/P/2018/25552/1 dated September 10, 2018 is disposed of without going into the merits of the case.
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Source: SecMarx — sebi:ORDER/VV/NK/2020-21/9092. 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.