sebi:Order/SR/2022-23/35/22679
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Facts / Headnote
SCN disposed off without imposing monetary penalty - allegations not established
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 11
- Reg. 11(1)
- Reg. 7(1)
Parties
- Jahnavi Patel
Holding
Allegations of violation of regulation 7(1A) r/w 7(2) of SAST Regulations, 1997 against Jahnavi Patel do not stand established and the SCN is disposed off without imposing monetary penalty.
Full text
Adjudication Order in respect of Jahnavi Patel in the matter of Radhe Developers (India) Ltd. Page 2 of 6 SEBI-PUBLIC under section 15A(b) of the SEBI Act, 1992 for the alleged violations of 7(1A) r/w 7(2)of SAST Regulations, 1997 by the Noticee. Subsequently, the matter was transferred and undersigned was appointed as AO vide order dated July 10, 2017.
Adjudication Order in respect of Jahnavi Patel in the matter of Radhe Developers (India) Ltd. Page 3 of 6 SEBI-PUBLIC 5. Noticee replied vide letter dated January 18, 2017 seeking documents relied upon. Upon my appointment as AO, vide hearing notice dated November 21, 2017 enclosing the SCN, the Noticee was granted an opportunity of personal hearing on December 14, 2017. In the said hearing notice, the Noticee was also advised to submit reply to the SCN by December 10, 2017. The said hearing notice was served to the Noticee through SPAD. The Noticee vide letter dated November 30, 2017 submitted the reply to the SCN requesting to provide various documents and also for inspection of documents and that Noticee has filed a consent application dated March 7, 2017. Office of AO ascertained from the relevant Department of SEBI regarding whether such an application was pending, upon ascertaining the matter was kept on abeyance. Vide email (secretarial at radheinfra dot com) dated November 05, 2019 the company sent a letter to relevant Department of SEBI regarding rejection of the said consent application. As the consent application was rejected and the matter was no longer on abeyance, vide letter dated January 17, 2020 sent and delivered by SPAD documents sought by Noticee were sent with an advice to reply within 15 days from receipt. Noticee sent a reply dated January 30, 2020 seeking inspection of documents. Inspection request was sent by undersigned AO to the relevant Department
Adjudication Order in respect of Jahnavi Patel in the matter of Radhe Developers (India) Ltd. Page 4 of 6 SEBI-PUBLIC for hearing scheduled from August 30, 2021 to September 03, 2021 at any date between 11:00 AM to 04:00 PM through any mode convenient to Noticee. Noticee sought postponement. Another opportunity of hearing was provided vide email dated October 20, 2021 for any date from November 10 to 12, 2021. Hearing proceedings were completed on November 09, 2021. Noticee attended with Authorised Representative. Minutes were confirmed over email. During the hearing Noticee requested for additional time to be given for reply, the same was given. Noticee filed a reply dated December 22, 2021.
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Source: SecMarx — sebi:Order/SR/2022-23/35/22679. 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.