sebi:Order/AK/RA/2021-22/15701
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Facts / Headnote
Adjudication proceedings disposed of; no violation found, no penalty imposed
Provisions invoked
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Arpit Khandelwal
Holding
The Noticee was held not to have violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, and no penalty was imposed.
Full text
Page 2 of 8 Period. In view of the same, SEBI initiated adjudication proceedings against the Noticee for violation of the provisions of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”).
Page 3 of 8 Accordingly, the noticee was requested to file reply not later than September 02 2021. The Noticee responded to the SCN vide letter dated August 23, 2021, denying all the allegations and seeking one-month further extension due to personal reasons to make a detailed submission. Vide letter dated September 20, 2021, the Noticee denied all the allegations on the following main contentions:
Page 4 of 8 CONSIDERATION OF ISSUES AND FINDINGS 8. I have carefully perused the charges levelled against the Noticee and the documents / material available on record. The issues that arise for consideration in the present case are: (a) Whether the Noticee has violated regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations? (b) Does the violation, if any, attract monetary penalty under Section 15HA of the SEBI Act? (c) If so, what would be the quantum of monetary penalty that can be imposed on the Noticee after taking into consideration the factors mentioned in section 15J of the SEBI Act?
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Source: SecMarx — sebi:Order/AK/RA/2021-22/15701. 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.