sebi:Order/SV/AJ/2024-25/30736
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Facts / Headnote
Charges not established; no penalty imposed on the Noticee
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15J
- s. 15F
- s. 23
- s. 23E
- s. 21
- s. 15I(1)
- s. 149(12)
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 4(2)
- Reg. 14
- Reg. 5
- Reg. 3(a)
- Reg. 15H
- Reg. 77
- Reg. 72(2)
- Reg. 77(1)
Parties
- Jyoti Munver
Holding
The Adjudicating Officer held that the charges against Noticee Jyoti Munver of violating Section 12A(a),(b),(c) of the SEBI Act and Regulations 3(a),(b),(c),(d) & 4(1) of the PFUTP Regulations, and Regulation 77(1) of the ICDR Regulations, in connection with the preferential allotment by Aadhaar Ventures India Limited, were not established from the materials on record.
Full text
Adjudication Order in respect of Jyoti Munver in the matter of Aadhaar Ventures India Limited Page 2 of 34 2. Pursuant to the investigation, Adjudication proceedings under Section 15HA of SEBI Act was initiated with respect to the Noticee 1, Noticee 4 (viz. Jyoti Munver, , Director and Authorised Signatory of AVIL), and other Directors (Noticee 2 and 3), who had made preferential allotment without complying with the provisions of Regulations 77(1) of Chapter VII of the ICDR Regulations and thus violated provisions of Section 12A(a), (b), (c) of SEBI Act, 1992 r/w Reg. 3(a), (b), (c), (d) & 4(1) of PFUTP Regulations.
Adjudication Order in respect of Jyoti Munver in the matter of Aadhaar Ventures India Limited Page 3 of 34 order against the Noticee and remitted the matter to the Adjudicating Officer for passing a fresh order after serving a copy of the SCN to the Noticee. The relevant extracts of the aforementioned order of Hon’ble SAT are reproduced hereunder:
Adjudication Order in respect of Jyoti Munver in the matter of Aadhaar Ventures India Limited Page 4 of 34 the Noticee. The Noticee was also provided an opportunity of hearing on June 13, 2024 as directed by Hon’ble SAT.
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Source: SecMarx — sebi:Order/SV/AJ/2024-25/30736. 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.