sebi:PB/AO-24/2010
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Facts / Headnote
Penalty imposed on Noticee for failure to comply with summons under sections 11C(2) and 11C(3) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 12
Parties
- Forward Exim Pvt. Ltd.
Holding
The Noticee was held liable for violating sections 11C(2) and 11C(3) of the SEBI Act by failing to furnish information sought by the Investigating Authority pursuant to summons, and a monetary penalty of Rs. 5,00,000 was imposed under section 15A(a) of the SEBI Act.
Full text
Page 2 of 14 (hereinafter referred to as ‘SEBI Act’) and consequently, liable for monetary penalty under section 15A (a) of the SEBI Act.
Page 3 of 14 (hereinafter referred to as “AR”) appeared on behalf of the Noticee on March 19, 2010 and mentioned during the course of the hearing that the Noticee wanted to make written submissions in the matter. The request of the Noticee was acceded to. Pursuant to the aforesaid hearing, the Noticee vide its letter dated March 30, 2010 made written
Page 4 of 14 may consider necessary if the furnishing of such information or the production of such books, or registers, or other documents, or record is relevant or necessary for the purposes of its investigation.
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Source: SecMarx — sebi:PB/AO-24/2010. 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.