sebi:PB/AO-03/2011
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Facts / Headnote
Violation established; penalty of Rs 50,000 imposed under section 15HA
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 4(2)
- Reg. 2
- Reg. 4(2)(a)
- Reg. 4(2)(e)
- Reg. 4(2)(g)
- Reg. 4(2)(b)
Parties
- Vijay Sharma
Holding
The Noticee violated regulations 4(1), 4(2)(a), 4(2)(b), 4(2)(e) and 4(2)(g) of the PFUTP Regulations in trading in the scrip of SGTL and is liable to a penalty of Rs 50,000 under section 15HA of the SEBI Act.
Full text
Page 2 of 12 APPOINTMENT OF ADJUDICATING OFFICER 4. The undersigned has been appointed as Adjudicating Officer vide order dated December 15, 2009 under section 15 I of the SEBI Act read with rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the alleged violations of provisions of the PFUTP Regulations.
Page 3 of 12 3. As regards my relationship with Mr. S.C. Gupta, please note that I was employed with the said person till December 2006 and thereafter, I left his services. I have no blood relationship with him and during the period of my employment or any time thereafter, we were not privy to the investment details of each other. I know him only by virtue of my previous employment under him. As stated in my previous letters, I re-iterate that I do not share any common address with the said person and that there is a discrepancy as regards the address in the records of the Company. I am in the process of having the same rectified.
Page 4 of 12 holding in the shares of the scrip and therefore there is no possibility of me placing an order on his behalf. I do not have any power of attorney from him to deal on his behalf. There were 2452 shareholders holding the shares of the scrip as on 31st December 2007 and it is practically impossible for me to keep track of any of those 2451 other shareholders, to/from whom the shares have been sold /purchased.
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Source: SecMarx — sebi:PB/AO-03/2011. 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.