sebi:Order/VV/AK/2022-23/21891
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Facts / Headnote
Proceedings abated and SCN disposed of without going into merits due to demise of the Noticee
Provisions invoked
- s. 15H
- s. 15I
Parties
- Mayank Gupta
Holding
The adjudication proceedings against Mayank Gupta were abated and the show-cause notice was disposed of without going into the merits in view of his death on May 08, 2016.
Full text
______________________________________________________________________________________ Adjudication Order in respect of Mayank Gupta.
Page 2 of 2 in the matter of dealing in Illiquid Stock Options at BSE 4. Accordingly, in terms of Rule 4(1) of the Adjudication Rules read with Section 15I of the SEBI Act, a notice to show cause no. SEBI/EAD5/AA/45737 dated 25/8/2022 (hereinafter referred to as ‘SCN’) 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 Notice was duly served upon the Noticee via SPAD.
5. Thereafter, vide email dated October 31, 2022, Authorized representative of the Noticee’s father, Jagannath Prasad Gupta, informed that Noticee, Mayank Gupta had died on May 08, 2016 at the age of 36 years. Further, a copy of death certificate of the Noticee in also attached in this regard.
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Source: SecMarx — sebi:Order/VV/AK/2022-23/21891. 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.