sebi:Order/BM/DS/2021-22/14371
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Facts / Headnote
Abated - adjudication proceedings abated without going into merits and SCN dated October 20, 2021 disposed of due to death of Noticee
Provisions invoked
- s. 15
- s. 19
- s. 15H
Regulations
- Reg. 3(a)
Parties
- Chameli Devi Jindal
Holding
The adjudication proceedings against Chameli Devi Jindal were abated without going into the merits following her death on April 20, 2021, and the SCN dated October 20, 2021 was disposed of accordingly.
Full text
Page 2 of 4 segment of BSE during the IP. It was observed that Chameli Devi Jindal (PAN - ABNPJ1728L) (hereinafter referred to as the “Noticee”) was one of the various entities who indulged in execution of reversal trades in stock options segment of BSE during the IP. Such trades were observed to be non-genuine in nature and created false or misleading appearance of trading in terms of artificial volumes in stock options and therefore were alleged to be manipulative, deceptive in nature. 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) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations, 2003”).
Page 3 of 4 S. N o. Contract Name Avg . Buy Rat e (Rs ) Total Buy Volu me (No. of units) Avg . Sell Rat e (Rs ) Total Sell Volu me (No. of units) % of Non Genui ne trades of Notice e in the contra ct to Notice e's Total trades in the Contra ct % of Non Genui ne trades of Notic ee in the contra ct to Total trades in the Contr act % of Artificia l Volum e genera ted by Notice e in the contrac t to Notice e's Total Volum e in the Contra ct % of Artificia l Volum e genera ted by Notice e in the contrac t to Total Volum e in the Contra ct 1 SBIL15MAR240.0 0CEW3 32. 35 3000 0 44. 45 3000 0 100 50 100 54.55
Page 4 of 4 8. Vide mail dated November 25, 2021, son of the Noticee informed about the death of the Noticee and provided the Death Certificate of the Noticee, issued by North Delhi Municipal Corporation (NDMC), Government of National Capital Territory of Delhi. The death certificate shows that the Noticee has passed away on April 20, 2021. The death certificate was verified from the website of NDMC. Thus, the proceedings are against the acts of omission and commission of a person who is no more to face the charges. In this regard, it is worth mentioning that in Girijanandini Vs Bijendra Narain (AIR 1967 SC 2110), the Hon’ble Supreme Court held that in case of personal actions, i.e., the actions where the relief sought is personal to the deceased, the right to sue will not survive to or against the representatives and in such cases the maxim actio personalis moritur cum persona (personal action dies with the death of the person) would apply. It is also relevant to refer to the
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Source: SecMarx — sebi:Order/BM/DS/2021-22/14371. 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.