sebi:Order/BM/DS/2022-23/24031
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Facts / Headnote
Abated
Provisions invoked
- s. 15
- s. 19
- s. 15H
Regulations
- Reg. 3(a)
- Reg. 26
Holding
The adjudication proceedings against the Noticee were abated without going into the merits of the case and the Show Cause Notice dated August 08, 2022 was disposed of accordingly following the Noticee's death on August 01, 2016.
Full text
Page 2 of 4 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”). APPOINTMENT OF ADJUDICATING OFFICER
Page 3 of 4 2022, Noticee was advised to file a reply to the SCN within 30 days of the receipt of the SCN. 5. With regard to the aforementioned SCN, vide email dated January 05, 2023, Mr. Sanjay Poddar informed about the death of the Noticee and vide email dated January 10, 2023 provided a scanned copy of the Death certificate of the Noticee, issued by Bidhannagar Municipal Corporation, Government of West Bengal. The death certificate shows that the Noticee passed away on August 01, 2016.
Page 4 of 4 9. In terms of rule 6 of the Adjudication Rules, 1995, copy of this order is sent to the Noticee’s last known address and also to SEBI. Place: Mumbai BARNALI MUKHERJEE Date: February 24, 2023 ADJUDICATING OFFICER
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