sebi:PB/AO-23/2010
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Facts / Headnote
Violation of Sections 11C(2) and 11C(3) held established; monetary penalty of Rs. 1,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 12
Holding
The Noticee violated Sections 11C(2) and 11C(3) of the SEBI Act by failing to furnish information on its relationship with entities listed at Sl. No. (3) of the annexure to summons dated November 17, 2008 despite reminder dated December 04, 2008, and is liable for penalty under Section 15A(a). A monetary penalty of Rs. 1,00,000 was imposed.
Full text
Page 2 of 15 APPOINTMENT OF ADJUDICATING OFFICER 3. The undersigned has been appointed as Adjudicating Officer vide order dated May 19, 2009 under section 15 I of the SEBI Act read with rule 3 of SEBI (Procedure for Holding Inquiry and Imposing
Page 3 of 15 Noticee vide its letter dated March 19, 2010 made written submissions. CONSIDERATION OF ISSUES AND FINDINGS
Page 4 of 15 9. In order to examine the role of the Noticee in the alleged manipulation and fraudulent trade practice in the trading in the scrip of SAI, summons was issued to the Noticee by the Investigating Authority (hereinafter referred to as “IA”). The details of summons issued vis-à-vis status of its compliance by the Noticee are as under:
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Source: SecMarx — sebi:PB/AO-23/2010. 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.