sebi:Order_against_Wide_Star_Trade_Wing_Pvt_Ltd
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Facts / Headnote
Violation established; penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 9
Parties
- M/s. Wide Star Trade Wing Pvt. Ltd.
Holding
M/s. Wide Star Trade Wing Pvt. Ltd. failed to submit the required information to SEBI's Investigating Authority in connection with the investigation into dealing in shares of STFL and is liable under Section 15A(a) of the SEBI Act, 1992. A penalty of Rs.25,000 was imposed.
Full text
Page 2 of 4 business in accordance with the procedures specified in Rule 5 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995.
Page 3 of 4 10. From the material on record, it may be seen that the noticee has not responded to the summons and did not appear before the investigating officer. Also the noticee failed to furnish documents/information sought. Hence, non compliance of summons can be treated as violation of Regulation 9 of SEBI (FUTP) Regulations, 1995 which stipulates that it shall be the duty of every person to produce to the investigating officer such books, accounts and other documents and furnish such statements and information as the investigating officer may require for the purpose of the investigation.
Page 4 of 4 b) the amount of loss caused to an investor or group of investors as a result of the default c) the repetitive nature of the default
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Source: SecMarx — sebi:Order_against_Wide_Star_Trade_Wing_Pvt_Ltd. 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.