sebi:Order/GR/RK/2021-22/13691
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Facts / Headnote
Decided ex-parte; Noticee held liable for insider trading and penalty of Rs. 20,00,000 imposed under Section 15G of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 12A
- s. 15G
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 5
- Reg. 4
- Reg. 4(1)
- Reg. 2(1)(d)
- Reg. 2(1)(g)
- Reg. 2(1)(d)(i)
- Reg. 2(1)(n)
- Reg. 2(1)(g)(i)
- Reg. 2(1)(f)
Parties
- Shri Pradeep Kumar Dhoot
Holding
The Noticee, being an insider, executed off-market transactions while in possession of UPSI in violation of Regulation 4(1) of SEBI PIT Regulations, 2015 read with Section 12A(d) & (e) of SEBI Act, 1992 and is liable to a monetary penalty of Rs. 20,00,000 under Section 15G of SEBI Act, 1992.
Full text
Adjudication Order w.r.t. Shri Pradeep Kumar Dhoot in the matter of M/s Videocon Industries Limited Page 2 | 21 Regulations, 2015’) read with Sec 12A (d) & (e) of Securities and Exchange Board of India Act, 1992, (hereinafter referred as ‘SEBI Act, 1992’) by the Noticee.
Adjudication Order w.r.t. Shri Pradeep Kumar Dhoot in the matter of M/s Videocon Industries Limited Page 3 | 21 5. The said SCN sent to the Noticee returned undelivered. Hence, an attempt was made to serve the SCN to the Noticee through publication. Hence, vide publication dated July 14, 2021 in national and vernacular dailies (viz. Hindustan Times and Lokmat), the Noticee was advised to collect the copy of the SCN from the office of AO or to download it from SEBI website. Further, an opportunity of personal hearing was granted to the Noticee on July 26, 2021 vide the same publication. It was inter-alia mentioned in the said notice that if the Noticee failed to appear before the Adjudicating officer on the said date and time, then the matter shall be proceeded with on the basis of the material available on record. Despite the same, no response has been received from the Noticee till date.
Adjudication Order w.r.t. Shri Pradeep Kumar Dhoot in the matter of M/s Videocon Industries Limited Page 4 | 21 “...appellants have neither filed reply to show cause notices issued to them nor availed opportunity of personal hearing offered to them in the adjudication proceedings and, therefore, appellants are presumed to have admitted charges levelled against them in the show cause notices...”
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Source: SecMarx — sebi:Order/GR/RK/2021-22/13691. 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.