sebi:PB/AO-70/2011
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Facts / Headnote
Violations established; monetary penalty of Rs. 1,00,000 imposed under section 15A(b) of the SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 13
- Reg. 13(1)
- Reg. 13(3)
- Reg. 13(5)
- Reg. 7(2)
Holding
The Noticee violated regulation 7(1) read with regulation 7(2) of SAST Regulations and regulation 13(1) and regulation 13(3) read with regulation 13(5) of PIT Regulations by failing to make required disclosures. A monetary penalty of Rs. 1,00,000 under section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 13 ‘PIT Regulations’) and therefore consequently, liable for monetary penalty under section 15A(b) of the SEBI Act.
Page 3 of 13 3. With regard to Para 1 to Para 2 of the Notice, it is submitted that the same is a matter of record therefore I have no comments to offer on the same.
Page 4 of 13 6. In the interest of natural justice and in order to conduct an inquiry in terms of rule 4(3) of the Rules, the Noticee was granted an opportunity of personal hearing on July 19, 2011, vide notice dated July 05, 2011 sent through SPAD to the Noticee. The said hearing notice was delivered and acknowledged by the Noticee. Mr. Balveer Singh Choudhary, Choudhary & Singhvi, Chartered Accountants, Authorized Representative, (hereinafter referred to as “AR”) appeared on behalf of the Noticee. During the hearing, the AR reiterated the
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Source: SecMarx — sebi:PB/AO-70/2011. 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.