sebi:Order/VV/AK/2021-22/15198
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Facts / Headnote
Show Cause Notice disposed of without imposition of penalty
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Purshottam Khandelwal
Holding
The Show Cause Notice alleging violation of Regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a), 4(2)(e) and 4(2)(g) of PFUTP Regulations by Purshottam Khandelwal is disposed of without imposition of penalty, as sufficient material was not found to attribute the violation.
Full text
Adjudication Order in respect of Purshottam Khandelwal Page 2 of 16 In the matter of Mefcom Agro Industries Limited highest seller for 23,27,865 shares (9.71% of market volume) on BSE during the investigation period. It was also alleged that the Noticee had indulged in self trades during the investigation period. Further the Noticee was also instrumental in increasing the price of the scrip.
Adjudication Order in respect of Purshottam Khandelwal Page 3 of 16 In the matter of Mefcom Agro Industries Limited Subsequently, the aforesaid SCN was returned undelivered. Therefore, the SCN has been uploaded on SEBI website (www.sebi.gov.in) under the head Enforcement-> Unserved summons/Notices. Additionally the said SCN is once again sent to the Noticee through the affixture in terms of Rule 7(2) of the Adjudication Rules. However, I note that Noticee has not responded to the SCN despite the SCN duly served in terms of Rule 7 of Adjudication Rules. In the interest of principle of natural justice and considering the cause before me, another opportunity of personal hearing is being granted to the Noticee by vide letter date March 16, 2020. The letter sent to the last address of the Noticee again got undelivered, accordingly, the SCN along with hearing opportunity was served through newspaper publication on June 06, 2020 in terms of Rule 7(3) of SEBI Adjudication Rules. However, the Noticee has neither filed any reply and nor attended the scheduled hearing.
Adjudication Order in respect of Purshottam Khandelwal Page 4 of 16 In the matter of Mefcom Agro Industries Limited Sr. Name of Entity PAN NO. Connection 4 Rakesh Kumar Mishra (Cosmo Corporate Services Ltd-Cosmo)
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Source: SecMarx — sebi:Order/VV/AK/2021-22/15198. 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.