sebi:Order/SM/HG/2022-23/21892
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Facts / Headnote
Ex-parte adjudication; penalty of Rs. 5,00,000 imposed on Noticee under Section 15A(a) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 11(2)
- s. 15J
- s. 11C
- s. 28A
Parties
- Pratik S Patel
Holding
The Noticee violated Section 11(2)(ia) and Section 11C(3) of the SEBI Act by failing to furnish information/documents sought by the Investigating Authority and is liable for monetary penalty under Section 15A(a); penalty of Rs. 5,00,000 imposed.
Full text
Adjudication Order in the matter of Edynamics Solutions Limited Page 2 of 11 S.No Sender id Telephone Service Provider Location Time Period 1 MD-SMCGLB MTNL Delhi March 2, 2017 2 HP-EQUTIP HFCL Infotel Limited Punjab March 3 & 6, 2017 3 HP-SHRKHN HFCL Infotel Limited Punjab 4 HP-LKPCAP HFCL Infotel Limited Punjab 5 HP-MONEYC HFCL Infotel Limited Punjab April 5, 2017 6 AD-GINGRU Bharti Airtel Limited Delhi October 5 & 6, 2017 7 AD-MONYMR Bharti Airtel Limited Delhi 8 AD-ICISEC Bharti Airtel Limited Delhi 9 AD-HDFSEC Bharti Airtel Limited Delhi
Adjudication Order in the matter of Edynamics Solutions Limited Page 3 of 11 (hereinafter referred to as “Noticee”) to provide certain information/details. However, it was observed that Noticee had not co-operated during investigation and failed to provide the documents/ information requisitioned by the IA and thereby hampered the process of investigation. Therefore, in view of the above, it was alleged that Noticee has violated section 11(2) (ia) and section 11C (3) of the SEBI Act, 1992 (hereinafter referred to as ‘SEBI Act’).
Adjudication Order in the matter of Edynamics Solutions Limited Page 4 of 11 sender/end user and thereby disobeyed the aforesaid summons dated January 20, 2020 and January 30, 2020 issued by IA and repeatedly failed to provide the documents/ information requisitioned by the IA. b) It was also observed that Noticee was advised that in case he fails to disobey the information requisition vide the aforesaid summons, SEBI may initiate prosecution/adjudication proceedings against him. c) However, it was observed that Noticee failed to produce/furnish the documents/information sought by IA as required under the SEBI Act and thereby hampered the process of investigation. In view of the above observations, it was alleged that Noticee has violated section 11(2) (ia) and section 11C (3) of the SEBI Act.
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Source: SecMarx — sebi:Order/SM/HG/2022-23/21892. 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.