sebi:Order/JS/DP/2025-26/31605
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Facts / Headnote
Benefit of doubt given to the Noticee; no penalty imposed
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15J
- s. 23E
- s. 21
- s. 15I(1)
- s. 23
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 72(2)
- Reg. 77(1)
- Reg. 77
Parties
- Omprakash Khandelwal
Holding
The Adjudicating Officer gave the Noticee, Omprakash Khandelwal, the benefit of doubt and did not hold him liable for the alleged violations of regulation 77(1) of ICDR Regulations and section 12A(a),(b),(c) of SEBI Act read with regulations 3(a),(b),(c),(d) and 4(1) of PFUTP Regulations.
Full text
Adjudication Order in respect of Omprakash Khandelwal in the matter of Aadhaar Ventures India Limited Page 2 of 31 (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market), Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) with respect to funding by the company, if any, to the preferential allottees as above.
Adjudication Order in respect of Omprakash Khandelwal in the matter of Aadhaar Ventures India Limited Page 3 of 31 5. The erstwhile AO vide common Adjudication Order dated February 27, 2023, (hereinafter referred to as ‘Adjudication order’), inter alia, found that Noticee, viz., Omprakash Khandelwal, managing director of the Company, was liable for the violations of the regulation 77(1) of Chapter VII of the ICDR Regulations and section 12A(a), (b), (c) of SEBI Act read with regulation 3(a), (b), (c), (d) and 4(1) of PFUTP Regulations.
Adjudication Order in respect of Omprakash Khandelwal in the matter of Aadhaar Ventures India Limited Page 4 of 31 3 of SCRA Rules to inquire into and adjudge under the provisions of section 15HA of SEBI Act, the alleged violation of provisions of section 12A( a),(b),(c) of SEBI Act read with regulations 3(a),(b),(c),(d), 4(1) of PFUTP Regulations, 2003 and regulation 77 (1) of Chapter VII of ICDR Regulations by the Noticee. Pursuant to reallocation of cases, vide communique dated April 08, 2025, undersigned was appointed as AO in the matter.
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Source: SecMarx — sebi:Order/JS/DP/2025-26/31605. 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.