sebi:PB/AO-32-39/2011
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Facts / Headnote
Proceedings disposed without imposition of penalty; violations not established
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 2(c)
- Reg. 4(2)(f)
- Reg. 3(d)
Parties
- M/s Dear Investment Pvt. Ltd.
- M/s Dalmia Housing Finance Ltd.
- M/s Lakshmi Vishnu Investment Ltd.
- M/s Swagatham Investment Ltd.
- M/s Maurya Finance Ltd.
- M/s Chirawa Investment Ltd.
- M/s Swastik Commercial Pvt. Ltd.
- M/s Sovereign Commercial Pvt. Ltd.
Holding
The Adjudicating Officer held that the allegations of violation of regulations 3(d) and 4(2)(f) of the PFUTP Regulations against the Noticees do not stand established and disposed of the proceedings without imposing penalty under Section 15HA of the SEBI Act.
Full text
Page 2 of 9 Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) and consequently, liable for monetary penalty under section 15HA of the SEBI Act, 1992 (hereinafter referred to as “SEBI Act”):
Page 3 of 9 5. The Noticees filed their reply to the SCNs vide letters dated January 09, 2011 and January 10, 2011. In their reply the Noticees have denied the
Page 4 of 9 iii. The advocates of the claimant vide letter dated September 8, 2009 had sent a copy of the arbitration order to GTL and also to Registrar of companies and to National Stock Exchange and Bombay Stock Exchange. Therefore, the listed company GTL is already having knowledge about the arbitration order and there is no hiding of information on the part of the Noticees.
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Source: SecMarx — sebi:PB/AO-32-39/2011. 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.