sebi:Order/MC/RM/2022-23/18231
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15A
- s. 15J
- s. 12
- s. 11C(2)
Parties
- Sudesh Kapoor
Holding
The adjudication proceedings initiated against Sudesh Kapoor vide SCN dated June 02, 2021 are disposed of without penalty. It was held that violation of Section 11C(2) and 11C(3) of the SEBI Act was not established and penalty under Section 15A(a) was not imposable.
Full text
Adjudication Order against Sudesh Kapoor in the matter of Delta Leasing & Finance Ltd. Page 2 of 6 held and penalty not be imposed against Noticee in terms of Section 15A(a) of the SEBI Act for the aforesaid alleged violations.
Adjudication Order against Sudesh Kapoor in the matter of Delta Leasing & Finance Ltd. Page 3 of 6 8. The delivery of summons sent to entities through email were confirmed through IT Department- SEBI, vide their email dated 18.12.2019 which confirmed the delivery of the summons through email. The email summons are in addition to sending of summons by speed post with acknowledgement due. The scanned copy of the summons were also sent to the e-mail ID of the Noticee registered by them with the Depositories through KYC. No reply has been received even after issuance of reminders to the summons as stated above. The reply of the Noticee to the summons was important to ascertain the date of settlement of transactions which is crucial to determine whether the transaction carried out was as per the time frame stipulated in Section 2(i)(a) of SCRA.
Adjudication Order against Sudesh Kapoor in the matter of Delta Leasing & Finance Ltd. Page 4 of 6 behalf, all the books, registers, other documents and record of, or relating to, the company or, as the case may be, of or relating to, the intermediary or such person, which are in their custody or power.
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Source: SecMarx — sebi:Order/MC/RM/2022-23/18231. 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.