sebi:Order/AN/HP/2022-23/24246-24248
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Facts / Headnote
Penalty imposed on Noticee 1 and Noticee 3; Noticee 2 exonerated
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 12
- s. 28A
Parties
- Bluewaves Media [Prop: Ashish Kalanoria] (Noticee 1)
- Noticee 2
- Hanif Kasambhai Shekh (Noticee 3)
Holding
Noticee 1 and Noticee 3 were held to have violated Section 11C(3) read with Section 11C(2) of the SEBI Act for failing to furnish documents/information sought by summons, and penalties of Rs. 1,00,000 and Rs. 10,00,000 respectively were imposed under Section 15A(a). The allegation against Noticee 2 was not established and it was given the benefit of doubt.
Full text
Adjudication Order in the matter of Greencrest Financial Services Limited Page 2 of 24 15A(a) of SEBI Act, the aforesaid alleged violations by the Noticees. Pursuant to transfer of Ms. Maninder Cheema, Dr. Anitha Anoop, CGM, SEBI was appointed as Adjudicating Officer vide Communique dated June 07, 2022. Pursuant to transfer of Dr. Anitha Anoop, undersigned was appointed as Adjudicating Officer (“AO”) vide communique dated September 05, 2022.
Adjudication Order in the matter of Greencrest Financial Services Limited Page 3 of 24 section 11C (2) of SEBI Act and thereby Noticee 1 has violated section 11C (3) read with section 11C (2) of SEBI Act.
Adjudication Order in the matter of Greencrest Financial Services Limited Page 4 of 24 3rd FLOOR, PLOT NO 1067, OPP. BINDU NIVAS, Kaliyabid Rd, Bhavnagar, Gujarat 364001
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Source: SecMarx — sebi:Order/AN/HP/2022-23/24246-24248. 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.