sebi:Order/VV/AK/PSS/2022-23/18167
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on the Noticee for violation of sections 11(2)(ia) and 11C(3) of the SEBI Act
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 11(2)
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Parties
- Quadrant Televentures Limited (formerly HFCL Infotel Limited)
Holding
The Noticee, Quadrant Televentures Limited, by providing incorrect, incomplete, contradictory and misleading information to the Investigating Authority, became liable for a monetary penalty of Rs. 2,00,000 under Section 15A(a) of the SEBI Act for violation of Sections 11(2)(ia) and 11C(3) of the SEBI Act.
Full text
Adjudication order in the matter of Ejecta Marketing Limited. Page 2 of 21 2. A show cause notice dated December 10, 2020 (hereinafter referred to as ‘SCN’), calling upon Quadrant Televentures Limited (hereinafter referred to as ‘the Noticee’) to show cause as to why appropriate penalty under section 15A(a) of the Securities and Exchange Board of India Act, 1992 (hereinafter called as the ‘SEBI Act, 1992’) be not imposed upon the Noticee for alleged violation of sections 11 (2) (ia) and 11C (3) of the SEBI Act.
Adjudication order in the matter of Ejecta Marketing Limited. Page 3 of 21 (proprietor - Pratipal Singh Zala) However, the Noticee did not provide the Customer Application Form (CAF) of Zodiac Solutions.
Adjudication order in the matter of Ejecta Marketing Limited. Page 4 of 21 VIII. Investigation alleged that the Noticee was asked to clarify through summons dated February 7, 2020 and February 20, 2020, whether SMS sender in the instant matter was SEBI registered investment advisor. The Noticee vide letter dated February 13, 2020 inter alia submitted that, “based on aggregator’s statement, the client had already disassociated with the client in 2018 and therefore, we are not in position to comment on this”. Further, the Noticee did not provide supporting document for the same.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/VV/AK/PSS/2022-23/18167. 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.