sebi:Order/VV/PS/2022-23/25197

SEBI · SEBI · 2022-08-04 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Abated - proceedings abated and SCN disposed of without going into merits

Provisions invoked

• s. 15
• s. 15H
• s. 15I

Parties

• Giriraj Mundada

Holding

The adjudication proceedings against Giriraj Mundada were abated and the show cause notice dated August 04, 2022 was disposed of without going into the merits of the case.

Full text

Adjudication Order with respect to Giriraj Mundada Page 2 of 2 in the matter of trading in illiquid stock options at BSE

3. In this connection, the undersigned was appointed as Adjudicating Officer under Section 15-I of the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) to inquire 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.

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 dated 04/08/2022 (hereinafter referred to as ‘SCN’) was issued to the Noticee calling upon him to show cause as to why an inquiry should not be held against him 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/email.

Source: SecMarx — sebi:Order/VV/PS/2022-23/25197. 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.