sebi:PB/AO-15/2011
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Facts / Headnote
Penalty imposed: Rs. 25,000 under section 15HB and Rs. 25,000 under section 15G(i) of the SEBI Act, totaling Rs. 50,000.
Provisions invoked
- s. 15
- s. 15H
- s. 15G
- s. 15J
- s. 307
- s. 12
- s. 4A
- s. 2(13)
- s. 3(42)
- s. 307(10)
Regulations
- Reg. 12(1)
- Reg. 3
- Reg. 2
- Reg. 12
- Reg. 3(i)
- Reg. 2(c)
- Reg. 2(e)
- Reg. 2(k)
Parties
- Naval Choudhary
Holding
The Noticee was held liable for violating regulation 12(1) read with clause 3.2-5 of the Code of Conduct (trading during prohibitory period) and regulation 3(ii) of the PIT Regulations (communicating unpublished price sensitive information to his wife), and was imposed a total penalty of Rs. 50,000.
Full text
Page 2 of 18 1992 (hereinafter referred to as “PIT Regulations”) and consequently, liable for monetary penalty under section 15HB and section 15G(i) of the SEBI Act.
Page 3 of 18 price sensitive information to his wife who has sold shares during the prohibitory period. 6. The aforesaid SCN was sent through Hand Delivery. The said notice was received and acknowledged by the Noticee on October 12, 2010. Vide letter dated October 22, 2010 the Noticee requested to keep the proceedings in abeyance till the end of January 2011. The Noticee vide letter dated January 01, 2011 requested for granting personal hearing.
Page 4 of 18 8. The Noticee vide letter dated January 31, 2011 filed written submissions and inter-alia stated that: • “………………………Albright and Wilson Chemicals India Ltd had notified the prohibitory period from 7th January 2008 to 16th March
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Source: SecMarx — sebi:PB/AO-15/2011. 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.