sebi:Order/VV/NK/2020-21/10369
Facts / Headnote
SCN dated December 21, 2018 disposed of with no further inquiry
Provisions invoked
- s. 15
- s. 19
- s. 15H
Regulations relied on
- SEBI (PFUTP) Regulations, 2003
- SEBI (PFUTP) Regulations, 2003 — 3(a)
Holding
The SCN dated December 21, 2018 issued to the Noticee in the matter of dealing in Illiquid Stock Options at BSE is disposed of with no further inquiry under Rule 4(3) of the Adjudication Rules.
Full text
Adjudication Order In the matter of dealing in Illiquid Stock Options at BSE Page 2 of 3 Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”). In view of above, SEBI had initiated adjudication proceedings against the Noticee under section 15HA of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’).
Adjudication Order In the matter of dealing in Illiquid Stock Options at BSE Page 3 of 3 10 of the abovementioned Order, SEBI shall not initiate any enforcement action or continue any enforcement proceedings already initiated against the Noticee for the settled defaults.
3. Initially, Shri Jeevan Sonparote was appointed as the Adjudicating Officer (AO) by SEBI, under Section 19 of the Securities and Exchange Board of India Act, (hereinafter referred to as “SEBI Act”) read with Section 15-I (1) of the SEBI Act and Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “Adjudication Rules”) Subsequently, in the matter the undersigned has been appointed as AO by SEBI on August 13, 2019, in the place of Shri Jeevan Sonparote to inquire into and adjudge, the violation alleged to have been committed by the Noticee.
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