sebi:Order/SR/PP/2020-21/7600/6
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Facts / Headnote
Penalty of Rs 14,00,000 imposed for SAST violations; PFUTP violations held not established
Provisions invoked
- s. 15A
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 7
- Reg. 3
- Reg. 11
- Reg. 4(1)
- Reg. 199
- Reg. 2(1)(e)
- Reg. 11(1)
- Reg. 3(a)
- Reg. 2(1)(e)(1)
Parties
- Pooja Arvind Goyal
Holding
The Noticee, as a person acting in concert, violated regulation 11(1) and regulation 7(1A) of SAST Regulations, 1997 and is liable to penalty of Rs 14,00,000 under sections 15A(b) and 15H of SEBI Act; PFUTP violations were not established.
Full text
Adjudication Order in respect of Pooja Arvind Goyal in the matter of Incap Financial Services Limited . Page 2 of 19 to as Investigation period / IP ) to ascertain whether there was any violation of Securities and Exchange Board of India Act, 1992 (in short SEBI Act), the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (in short PFUTP Regulations) and the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (in short SAST Regulations). The shares of Incap were listed at Bombay Stock Exchange Limited during IP. IA observed non-compliances with regard to SEBI Act, PFUTP Regulations and SAST Regulations by Pooja Arvind Goyal (in short Noticee) and others.
Adjudication Order in respect of Pooja Arvind Goyal in the matter of Incap Financial Services Limited . Page 3 of 19 (undersigned) was appointed an AO in this matter. The appointment of undersigned as AO was communicated to the Noticee vide order dated July 10, 2017. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in respect of Pooja Arvind Goyal in the matter of Incap Financial Services Limited . Page 4 of 19 6. The SCN was sent to the Noticee through the speed post acknowledgment due (SPAD). Proof of service of the SCN upon the Noticee is available on record. Vide letter dated June 09, 2016, Noticee interalia denied the allegations alleged in the SCN, requested for certain documents and further three weeks thereafter for reply. Vide letter dated June 17, 2016, Noticee was advised to contact OD latest by June 04, 2016 for the inspection of documents and the documents sought by. Noticee vide letter dated July 11, 2016 intimated the change in correspondence address and accordingly the new address, "Anmol Prestige, 2302, Opposite Patel Petrol Pump SV Road Goregaon West Mumbai 400062" was brought on record.
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Source: SecMarx — sebi:Order/SR/PP/2020-21/7600/6. 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.