sebi:PG/AO-43/2010
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Facts / Headnote
Penalty imposed on Noticee for failure to comply with summonses issued by SEBI's Investigating Authority
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 12
Parties
- Coverage & Consultants Ltd.
Holding
The Noticee violated sections 11C(2), 11C(3) and 11C(5) of the SEBI Act by failing to comply with summonses issued by the Investigating Authority, and a monetary penalty of Rs.1,50,000/- was imposed under section 15A(a) of the SEBI Act.
Full text
Adjudication Order in respect of Coverage & Consultant Ltd. in the matter of Top Telemedia Ltd Page 2 of 13 Rs. 1.75 during the period November 1, 2001 to January 8, 2002 (face value Rs. 1). Thereafter, the stock was consolidated to face value of Rs.10/- and the share price varied from Rs.6.70 to Rs.18/- from January end to March end 2002 before it fell gradually to levels of Rs.13 by the end of April 2002. This rise in price was accompanied by sharp increases in volumes and number of trades.
Adjudication Order in respect of Coverage & Consultant Ltd. in the matter of Top Telemedia Ltd Page 3 of 13 upon the transfer of Mr. V.S. Sundaresan, the undersigned was appointed as the Adjudicating Officer vide Order dated November 12,
Adjudication Order in respect of Coverage & Consultant Ltd. in the matter of Top Telemedia Ltd Page 4 of 13 Matrix, Advocates, Mumbai to collect the aforesaid Notices and sought postponement of the aforesaid hearing for 21 days. Accordingly, copy of the aforesaid SCN along with hearing notice dated May 07, 2010 was given to Juris Matrix by hand on June 16, 2010, as requested by the Noticee in the aforesaid letter.
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Source: SecMarx — sebi:PG/AO-43/2010. 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.