sebi:Order/SBM/KL/2021-22/12900
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 159
- s. 151
- s. 248
- s. 560
Regulations
- Reg. 3
Parties
- Ashmi Financial Consultancy Private Limited
Holding
The adjudication proceedings initiated against Ashmi Financial Consultancy Private Limited were disposed of without imposing any penalty, as the Noticee's name had been struck off from the Register of Companies and the company had been dissolved on August 06, 2018, rendering it a non-existing company.
Full text
Page 2 of 7 Practices relating to Securities Market) Regulations, 1995 (hereinafter referred to as ‘PFUTP Regulations, 1995) read with Regulation 3 and 4 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to the Securities Market) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations, 2003).
Page 3 of 7 4(1) of the Adjudication Rules to show-cause as to why an inquiry should not be initiated against the Noticee and penalty be not imposed on it under the provisions of Section 15HA of the SEBI Act for the alleged violation of the provisions of Section 12A of the SEBI Act and Regulation 3, 4 and 6 of PFUTP Regulations, 1995, read with Regulation 3 and 4 of PFUTP Regulations, 2003 by the Noticee. In the context of the present proceedings, the SCN and Supplementary SCN which were issued to the Noticee are hereinafter collectively referred to as ‘SCNs’.
Page 4 of 7 held against you in terms of rule 4 of the Rules read with section 151 of SESI Act and penalty be not imposed under section 15HA of SESI Act for the aforesaid alleged contravention/ violation of the provisions of the SEBI Act and PFUTP Regulations.
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Source: SecMarx — sebi:Order/SBM/KL/2021-22/12900. 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.