sebi:Order/SM/DD/2022-23/18198-18201

SEBI · SEBI · 2020-09-02 · Soma Majumder, Adjudicating Officer

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Facts / Headnote

Noticees 1 to 4 held to have violated Sections 11(2)(i) and 11C(3) of SEBI Act and each imposed penalty of Rs.4,00,000 under Section 15A(a), payable within 45 days failing which recovery under Section 28A.

Provisions invoked

• s. 15A
• s. 15
• s. 19
• s. 11(2)
• s. 11
• s. 15J
• s. 28A

Parties

• Sandesh Kumar Pandey
• Mobonair Wireless Technology
• Abhishek Kumar
• Pratik Sanjay Bhai Patel - Web Arrival I Technology

Holding

Noticees 1 to 4 violated Sections 11(2)(i) and 11C(3) of the SEBI Act by failing to furnish information in response to summonses issued by the Investigating Authority and are each liable to a monetary penalty of Rs.4,00,000 under Section 15A(a) of the SEBI Act.

Full text

Adjudication Order in the matter of Ejecta Marketing Limited Page 2 of 14 APPOINTMENT OF ADJUDICATING OFFICER 2. Vide order dated September 02, 2020, Ms. Sangetta Rathod was appointed as the Adjudicating Officer (‘AO’) under Section 15-I of the SEBI Act and Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) read with Section 19 of the SEBI Act, to inquire into and adjudge under Section 15A(a) of SEBI Act, the alleged violation of Sections 11(2) (i) &11 C(3) of SEBI Act by Noticees.

Adjudication Order in the matter of Ejecta Marketing Limited Page 3 of 14 notice was sent to Noticee through SPAD and through digitally signed email which was duly served upon him. However, Noticee failed to attend the said hearing granted to him. Accordingly, in the interest of natural justice, another opportunity of personal hearing was granted to him on May 17, 2022, vide hearing notice dated May 05, 2022. The said hearing notice was sent to Noticee 4 through SPAD and digitally signed email dated May 07, 2022 and was duly served upon Noticee 4. However, the hearing could not be take place as scheduled on May 17, 2022 due to operational issues. Accordingly, another opportunity of hearing was granted to Noticee 4 on June 06, 2022, vide email dated May 23, 2022. During the hearing, Noticee 4 informed that he had submitted the information as required by SEBI during the course of investigation. During the hearing, Noticee was informed that the charges levelled against him pertained to non-compliance with summons. Accordingly, Noticee 4 requested time till June 13, 2022, for submitting the reply. The request of Noticee 4 was acceded to. However, no reply has been received from Noticee 4 till the date of this order.

Adjudication Order in the matter of Ejecta Marketing Limited Page 4 of 14 alleged against them in the show-cause notice were admitted by them”. Similarly, the Hon'ble SAT also, in the case of Sanjay Kumar Tayal & Ors. v. SEBI (in appeal No. 68/2013) decided on February 11, 2014, held that “…appellants have neither filed reply to show cause notices issued to them nor availed opportunity of personal hearing offered to them in the adjudication proceedings and, therefore, appellants are presumed to have admitted charges levelled against them in the show cause notices”. Since no replies to the SCN have been filed by Noticees, it can be reasonably presumed that the allegations have been admitted to by Noticees in this case.

Source: SecMarx — sebi:Order/SM/DD/2022-23/18198-18201. 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.