sebi:Order/AN/SM/2022-23/25492-25494
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Facts / Headnote
Violations of Section 11C(3) read with Section 11(2)(ia) of the SEBI Act, 1992 held established against all three Noticees; monetary penalty imposed under Section 15A(a) of the SEBI Act, 1992.
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 11(2)
- s. 15I
- s. 15J
- s. 11C
- s. 28A
Parties
- Himalayan Mineral Waters Pvt. Ltd (Noticee 1 / HMWPL)
- Perfect Radiators and Oil Coolers Pvt. Ltd (Noticee 2 / PROC)
- CA Pankaj Shah (Noticee 3)
Holding
The Adjudicating Officer held that all three Noticees failed to furnish documents/information as required under Section 11C(3) read with Section 11(2)(ia) of the SEBI Act, 1992 within the timelines prescribed in the respective summons, and imposed monetary penalty under Section 15A(a) of the SEBI Act, 1992.
Full text
Adjudication Order in the matter of LEEL Electricals Limited. Page 2 of 22 by promoters/directors/ key managerial persons, for the financial years FY 2017-18 and FY 2018-19 and to ascertain whether there was any violation of the provisions of SEBI Act, SEBI (PFUTP) Regulations, 2003 and SEBI (LODR) Regulations, 2015 during the period between April 01, 2017 to March 31, 2019 (‘Investigation Period’ / ‘IP’).
Adjudication Order in the matter of LEEL Electricals Limited. Page 3 of 22 5. A common Show Cause Notice No. SEBI/HO/EAD/EAD5/P/OW/2023/9595/1- 3/4-5/6-7 dated March 04, 2023 (“SCN”) was issued to Noticee 1, Noticee 2 and Noticee 3 respectively, in terms of Section 15-I of the SEBI Act, 1992, rule 4 of SEBI Adjudication Rules, 1995 to show cause as to why an inquiry should not be held against them and why penalty, if any, under section 15(A)a of SEBI Act, 1992 be not imposed on the Noticees.
Adjudication Order in the matter of LEEL Electricals Limited. Page 4 of 22 7. The SCN was served upon the Noticees through SPAD at their respective addresses available and also by email at their respective email IDs.
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Source: SecMarx — sebi:Order/AN/SM/2022-23/25492-25494. 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.