sebi:PB/AO-40/2011
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Facts / Headnote
Proceedings disposed without imposition of penalty under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 2(c)
- Reg. 4(2)(f)
- Reg. 3(d)
Holding
The Adjudicating Officer held that the allegations of violation of regulations 3(d) and 4(2)(f) of the PFUTP Regulations against the Noticee do not stand established and disposed of the proceedings without imposing penalty under section 15HA of the SEBI Act.
Full text
Page 2 of 8 APPOINTMENT OF ADJUDICATING OFFICER 3. The undersigned has been appointed as Adjudicating Officer, vide order dated July 28, 2010 under section 15-I of the SEBI Act read with Rule 3 of 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 regulations 3(d) and 4(2)(f) of PFUTP Regulations.
Page 3 of 8 submissions wherein they denied the allegations. The submissions of the Noticee are mainly to the following effect: i. Firstly, the arbitration order was passed on July 23, 2009, therefore the charges for the quarters ending March 31, 2009 and June 30, 2009 can not be sustained.
Page 4 of 8 7. The Noticee requested seven days time to file additional written submissions in the matter which was acceded to. The Noticee filed written submission in the matter vide its letter dated March 17, 2011 wherein it reiterated the submissions made during the hearing.
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Source: SecMarx — sebi:PB/AO-40/2011. 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.