sebi:Order/JS/VC/2025-26/31615
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Facts / Headnote
Violation established; monetary penalty imposed under section 15HB
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 11(3)
- s. 15H
- s. 15I
- s. 15J
- s. 11C(6)
- s. 11C
- s. 11C(3)
- s. 28A
- s. 11C(5)
Holding
The Noticee failed to appear before the Investigating Authority for examination on oath despite receipt of multiple summonses without reasonable cause, thereby violating section 11C(5) of the SEBI Act, and is liable to a monetary penalty of Rs. 1,00,000 under section 15HB of the SEBI Act.
Full text
Adjudication Order in the matter of trading activities in the scrip of Sigma Solve Limited Page 2 of 16 provisions of section 15HB of the SEBI Act for the violation alleged to have been committed by the Noticee.
Adjudication Order in the matter of trading activities in the scrip of Sigma Solve Limited Page 3 of 16 (c) It was observed that the Noticee did not appear before IA despite receipt of multiple summons dated October 31, 2024, December 04, 2024 and December 10, 2024. The chronology of events with respect to the correspondence between SEBI and Noticee is tabulated below: Table No. 1 Date Remarks October 31, 2024
Adjudication Order in the matter of trading activities in the scrip of Sigma Solve Limited Page 4 of 16 Date Remarks same email-id which was given by it where the first summons was delivered. November 23, 2024 Vide email dated November 23, 2024, said Noticee was directed to provide the details/supporting document regarding the medical emergency mentioned in the aforementioned email which prevented it from personal appearance even at SEBI Delhi Office. November 28, 2024 Considering that no response received from the Noticee, another reminder email was sent to the Noticee on November 28, 2024. November 30, 2024 Vide email dated November 30, 2024, Noticee submitted through its partner, i.e., Sumit Kumar was suffering from fever because of jaundice and attached doctor prescription dated November 20,
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Source: SecMarx — sebi:Order/JS/VC/2025-26/31615. 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.