sebi:Order/KS/KT/2023-24/25705

SEBI · SEBI · 2021-09-20 · Kranti Sardesai, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of on account of death of the Noticee

Provisions invoked

• s. 15H
• s. 15I

Parties

• Late Mahesh Agarwal

Holding

The adjudication proceedings against the deceased Noticee, Late Mr. Mahesh Agarwal, are disposed of as the proceedings and any penalty being personal in nature abate upon the death of the Noticee.

Full text

_________________________________________________________________________________ Adjudication order in respect of Late Mahesh Agarwal in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 3 Act”) read with rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “Adjudication Rules”) vide order dated September 20,2021, to inquire into and adjudge under section 15HA of the SEBI Act against the Noticee for the alleged violation of the aforesaid provisions of PFUTP Regulations, 2003

_________________________________________________________________________________ Adjudication order in respect of Late Mahesh Agarwal in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 3

SHOW CAUSE NOTICE & REPLY 3. Accordingly, in terms of Rule 4(1) of the Adjudication Rules read with Section 15I of the SEBI Act, a Show Cause Notice (hereinafter referred to as “SCN”) dated March 07, 2022 was issued to the Noticee calling upon him to show cause as to why an inquiry should not be held against him in terms of Rule 4 of the Adjudication Rules and penalty be not imposed under Section 15HA of the SEBI Act for the aforesaid alleged violations. The SCN sent to the Noticee was duly served upon the Noticee via SPAD/email.

Source: SecMarx — sebi:Order/KS/KT/2023-24/25705. 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.