sebi:Order/VT/AK/2022-23/24217
Facts / Headnote
Abated
Provisions invoked
- s. 15H
- s. 15I
Regulations relied on
- SEBI (PFUTP) Regulations, 2003
Parties
- Shakuntala Devi Singhania
Holding
The adjudication proceedings against Shakuntala Devi Singhania abate upon her death on June 12, 2022, and the SCN dated November 30, 2021 along with SSCN dated August 08, 2022 are disposed of without going into the merits.
Full text
_________________________________________________________________________________ Adjudication order in respect of Late Shakuntala Devi Singhania in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 3 into and adjudge under Rule 5 of the Adjudication Rules, the alleged violations by the Noticee and determine whether penalty under Section 15HA of the SEBI Act is liable to be imposed upon the Noticee. SHOW CAUSE NOTICE & REPLY
_________________________________________________________________________________ Adjudication order in respect of Late Shakuntala Devi Singhania in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 3
4. Accordingly, in terms of Rule 4(1) of the Adjudication Rules read with Section 15I of the SEBI Act, a Show Cause Notice (hereinafter referred to as “SCN”) dated November 30, 2021 was issued to the Noticee calling upon her to show cause as to why an inquiry should not be held against her in terms of Rule 4 of the Adjudication Rules and penalty be not imposed under Section 15HA of the SEBI Act for the aforesaid alleged violations. The SCN sent to the Noticee was duly served upon the Noticee via SPAD/email. Pursuant to the SEBI Settlement Scheme 2022, a supplementary show cause notice dated August 08, 2022 (hereinafter referred to as “SSCN”) has also been issued to the Noticee.
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