sebi:Order/KS/PP/2020-21/9506
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Facts / Headnote
Penalty imposed on Noticee for non-compliance with summons
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 12
- s. 11C
- s. 11C(2)
- s. 11C(3)
- s. 11(2)
Parties
- Surajit Dey
Holding
The Noticee, Shri Surajit Dey, violated Sections 11(2)(ia) and 11C(3) read with Section 11C(2) of the SEBI Act by failing to comply with the summons dated March 12, 2019, and a penalty of Rs. 2,00,000 was imposed under Section 15A(a) of the SEBI Act. Charges regarding non-compliance with the summons dated February 26, 2019 were not established as there was no record of service.
Full text
Adjudication Order in respect of Surajit Dey in the matter of non-compliance of summons. Page 2 of 12 Noticee’) was a Director of Everlight at the relevant time. During the course of investigation, SEBI issued summons dated February 26, 2019 to the directors (including Noticee) of Everlight seeking details of transfer of shares through off-market, reason/purpose for transfer of shares, consideration received and relationship with respective transferees with the entity. However, the said summons could not be delivered to the addressees, stating the remarks as “insufficient address”.
Adjudication Order in respect of Surajit Dey in the matter of non-compliance of summons. Page 3 of 12 Sections 11(2)(ia) and 11C(3) read with Section 11C(2) of the SEBI Act by the Noticee.
Adjudication Order in respect of Surajit Dey in the matter of non-compliance of summons. Page 4 of 12 5. It was alleged in the SCN that the Noticee had failed to submit details sought by SEBI vide summons dated February 26, 2019 and March 12,
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Source: SecMarx — sebi:Order/KS/PP/2020-21/9506. 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.