sebi:Order/KS/AA/2019-20/6184
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Facts / Headnote
Proceedings abated; SCN dated October 04, 2019 disposed of without going into merits
Provisions invoked
- s. 13
- s. 16
- s. 18
- s. 23H
Parties
- Shri Kantilal Chunnilal Doshi (deceased)
Holding
The adjudication proceedings against the deceased Noticee Shri Kantilal Chunnilal Doshi abate on account of his death on April 05, 2019, and the Show Cause Notice dated October 04, 2019 is disposed of without going into the merits of the case.
Full text
Page 2 of 6 Section 16 of SCRA read with SEBI Notification S.O. 184(E) dated March 1, 2000, Section 13 and Section 18 of SCRA read with Section 2(i) of SCRA.
Page 3 of 6 seeking details of receipt of shares through off market/ transfer of shares, reason / purpose for receipt/ transfer of shares, consideration paid/ received and relationship with respective transferor and transferees with them.
Page 4 of 6 8. Hence, it was observed that the purchase value submitted by the 8 suspected entities including the Noticee in reply to summons did not corroborate with the purchase value mentioned on DIS. Further, the submission of 8 suspected entities including the Noticee that the purchase consideration was paid in cash could not be accepted since it was unlikely that the 8 suspected entities including the Noticee made the cash payment in the range of Rs.9,45,000- Rs.9,94,500 each to the transferor Everlight Tie-up Pvt. Ltd. Further, none of the suspected entities submitted any proof to support the payment.
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Source: SecMarx — sebi:Order/KS/AA/2019-20/6184. 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.