sebi:Order/SS/VS/2019-20/6309-6313
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Facts / Headnote
Penalty imposed on Noticees 2, 3 and 5; charge against Noticee 1 disposed of; PFUTP charges not established against any Noticee
Provisions invoked
- s. 12A
- s. 15H
- s. 15I
- s. 28A
- s. 23A
- s. 23I
- s. 21
- s. 23
- s. 23H
- s. 23J
- s. 446
- s. 33(5)
- s. 238
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- ABG Shipyard Ltd.
- Major Arun Pathak
- Major Syed Abdi
- Mr. S Muthuswamy
- Mr. Dhananjay Datar
Holding
The Adjudicating Officer held that Noticees 2, 3 and 5 (Major Arun Pathak, Major Syed Abdi, and Mr. Dhananjay Datar) contravened clause 49 of the ELA read with clauses 41 and 50 of the ELA and imposed penalties of ₹3,00,000, ₹3,00,000 and ₹2,00,000 respectively under section 23A(a) of the SCRA. The PFUTP Regulation charges against all five Noticees were not established, and the charge against Noticee No. 1 (ABG Shipyard Ltd.) was disposed of due to its liquidation status.
Full text
___________________________________________________________________________ Adjudication Order in respect of 5 entities the matter of ABG Shipyard Limited Page 2 of 14 (File Ref No.: EAD-2/SS/VS/75/147-151/2019-20)
___________________________________________________________________________ Adjudication Order in respect of 5 entities the matter of ABG Shipyard Limited Page 3 of 14 (File Ref No.: EAD-2/SS/VS/75/147-151/2019-20)
___________________________________________________________________________ Adjudication Order in respect of 5 entities the matter of ABG Shipyard Limited Page 4 of 14 (File Ref No.: EAD-2/SS/VS/75/147-151/2019-20)
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