sebi:Order/BD/AA/2020-21/10233-10255
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Provisions invoked
- s. 15A
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 11C
- s. 11C(3)
- s. 15F
- s. 28A
- s. 11C(5)
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(a)
Parties
- Acuity Merchants Pvt Ltd
- Nareshbhai Pappubhai Parmar
- Padma Rewachand Advani
- Pranlal Mahasukhbhai Mehta
- Richhold Properties Pvt Ltd
- Ankit Jagdishbhai Pithava
- Kamlesh Bhikhabhai Shah
- Monotype India Ltd
- Vijaya Parashram Salvi
- Guiness Finance and Leasing Pvt Ltd
- Kaberi Goods Pvt Ltd
- Deepak Parsharam Salvi
Holding
The Adjudicating Officer framed issues on whether Noticees 1 to 19 violated Section 12A(a),(b),(c) of the SEBI Act read with PFUTP Regulations 3(a)-(d), 4(1), 4(2)(a) and (g), and whether they violated Sections 11C(3) and 11C(5) by failing to provide information and appear before the Investigating Authority, and whether penalties under Sections 15HA and 15A(a) are attracted. The order records findings that the Noticees' volume contribution in SEIL was significant and that Noticee 22 was connected to Arcadia, Noticee 8 and Noticee 1 through off-market transfers.
Full text
Page 2 of 59 22. Monotype India Ltd (PAN: AABCM8156H) 23. Vijaya Parashram Salvi (PAN: GFDPS9389C) In the matter of Steel Exchange India Limited
Page 3 of 59 Act and also failed to appear in person for recording of statement under oath under section 11C(5) of the SEBI Act. The detail of the charges alleged against each of the Noticee is given in table below:
Page 4 of 59 2. In view of the above observations and alleged violations, the adjudication proceedings were initiated against the Noticees under the provisions of sections 15A(a) and 15HA of the SEBI Act, wherever applicable. APPOINTMENT OF ADJUDICATING OFFICER 3. Dr. Anitha Anoop was appointed as the Adjudicating Officer (hereinafter referred to as ‘AO’), vide communiqué dated June 09, 2020, under section 15-I of the SEBI Act read with Rule 3 of the Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as 'Adjudication Rules’) to inquire into and adjudge under the provisions of sections15A(a) and 15HA of the SEBI Act, the alleged violation of the relevant provisions of the PFUTP Regulations and the SEBI Act, by the Noticees. Pursuant to the transfer of Dr. Anitha Anoop, the 16 Nareshbhai Pappubhai Parmar (‘Nareshbhai’ / ‘noticee 16’) 17 Padma Rewachand Advani (‘Padma’ / ‘noticee 17’) 18 Pranlal Mahasukhbhai Mehta (‘Pranlal’ / ‘noticee 18’) 19 Richhold Properties Pvt Ltd (‘Richhold’ / ‘noticee 19’) 20 Ankit Jagdishbhai Pithava (‘Ankit’ / ‘noticee 20’) Sections 12A (a), (b) and (c) of the SEBI Act read with Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of the PFUTP Regulations
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Source: SecMarx — sebi:Order/BD/AA/2020-21/10233-10255. 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.