sebi:Order/PM/AA/2018-19/788

SEBI · SEBI · 2004-05-07 · Prasanta Mahapatra, Adjudicating Officer

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Facts / Headnote

Matter disposed of without imposition of any penalty; allegations not established

Provisions invoked

• s. 15A
• s. 15I
• s. 11C

Parties

• Shilpa Pradeep Dave

Holding

The alleged violations of Sections 11(3)(ii) and 11C(6)(c) of the SEBI Act, 1992 by the Noticee Shilpa Pradeep Dave were not established, and the matter was disposed of without imposition of any penalty.

Full text

Adjudication Order against Shilpa P Dave in the matter of Vision Organics Ltd. Page 2 of 6 3. Show Cause Notice no. EAD/AP/ADJ/74188/2006 dated August 11, 2006 (hereinafter referred to as “SCN”) was issued to the noticee in terms of Rule 4 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) read with section 15I of SEBI Act, 1992 to show cause, inter alia, as to why an inquiry should not be held and penalty be not imposed under section 15A(a) of SEBI Act, 1992. It was alleged in the SCN that the Noticee failed to discharge her statutory obligation by not complying with the requirement of IO.

Adjudication Order against Shilpa P Dave in the matter of Vision Organics Ltd. Page 3 of 6 appeal were properly served on Appellant or not, impugned order may be quashed and set aside and the appeal be restored to the file of the adjudicating officer for passing fresh order on merits and in accordance with law.”

Adjudication Order against Shilpa P Dave in the matter of Vision Organics Ltd. Page 4 of 6 March, 2011) and another letter dated 2nd June, 2004 (para 14). Since the letter send by SEBI were never received by me I had not sent any reply. Due to non- submission of information according to the order adjudication proceeding were initiated against me and SCN dated 11th August, 2006 was issued to me which also had not been received by me. As per the impugned order, none of the notices were served on me and all them had returned undelivered. A final notice dated 3rd February, 2011 was issued by SEBI and fixed the hearing on 17th February, 2011 in respect of non- furnishing of information……… Since I had not received the notice I had neither replied nor attended the hearing. An ex- parte order dated 23rd March, 2011 was issued in respect of the original notice dated 11th August, 2006….” CONSIDERATION OF ISSUES AND FINDINGS

Source: SecMarx — sebi:Order/PM/AA/2018-19/788. 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.