sebi:Order/SRP/AE/2018-19/1764
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation of PFUTP Regulations 3(a) to (d), 4(1) and 4(2)(a) and (g) upheld against the Noticee
Provisions invoked
- s. 15
- s. 12A
- s. 11
- s. 15H
- s. 15J
- s. 15T
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 200
- Reg. 4(2)
- Reg. 4(2)(a)
- Reg. 3(a)
- Reg. 4(2)(g)
- Reg. 3(d)
- Reg. 3(b)
- Reg. 3(c)
Parties
- Rekha Mishra
Holding
The Noticee, Rekha Mishra, violated Regulations 3(a) to (d), 4(1) and 4(2)(a) and (g) of the PFUTP Regulations by reversing her sell transactions of 1,22,441 shares of Pressman Advertising Ltd with Mridul Securities Pvt Ltd through subsequent off-market receipt of shares before T+2 settlement day.
Full text
Adjudication order in respect of Rekha Mishra in the matter of Pressman Advertising Ltd Page 2 of 26 3. SEBI has, therefore, initiated adjudication proceedings under Section 15HA of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act, 1992”) against the Noticee along with the aforesaid Group Entities for the alleged violation of the provisions of Regulations 3(a) to (d), 4(1) and 4(2)(a) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations 2003 (hereinafter referred to as "PFUTP Regulations").
Adjudication order in respect of Rekha Mishra in the matter of Pressman Advertising Ltd Page 3 of 26 Gupta, Anil Kumar Gupta, Nisha Jain, Priyanka Havelia More, and Mamta Sehgal, applied for settlement of the respective adjudication proceedings initiated against them, under the provisions of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (hereinafter referred to as “SEBI Settlement Regulations”). I note that vide Settlement Orders dated February 21, 2018, the adjudication proceedings have been disposed of in respect of the aforesaid 15 entities. APPOINTMENT OF THE ADJUDICATING OFFICER
Adjudication order in respect of Rekha Mishra in the matter of Pressman Advertising Ltd Page 4 of 26 the erstwhile AO, Shri S. V. Krishnamohan. However, vide email dated January 14, 2017, Noticee inter alia requested for an adjournment of the hearing, and requested for further time to file reply to the SCN. Subsequently, vide letter dated March 15, 2017, Noticee requested for inspection of documents in the matter, and accordingly, an opportunity for inspection of documents was granted to the Noticee on June 05, 2017. However, vide letter dated July 10, 2017, Noticee informed that she was unable to avail the opportunity of the said inspection, and requested to be provided another date for carrying out inspection of documents. Consequently, inspection of documents was scheduled on August 08, 2017. The said inspection of documents was carried out by Shri Ravi Ramaiya on behalf of the Noticee.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/SRP/AE/2018-19/1764. 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.