sebi:PG/TT/AO-17/2012
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Facts / Headnote
Proceedings disposed of without imposing any penalty
Provisions invoked
- s. 11
- s. 15A
- s. 15J
- s. 12
Parties
- Ashwini Trading Pvt. Ltd
Holding
The adjudication proceedings against Ashwini Trading Pvt. Ltd. for alleged violation of sections 11C(2) and 11C(3) of the SEBI Act were disposed of without imposing any penalty, giving the benefit to the Noticee.
Full text
Adjudication Order in respect of Ashwini Trading Pvt. Ltd in the matter of Alka Securities Ltd. Page 2 of 7 March 28, 2012 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Ashwini Trading Pvt. Ltd in the matter of Alka Securities Ltd. Page 3 of 7 March 28, 2012 vide which it requested to be granted an additional four weeks’ time to file written submissions. Vide letter dated April 7, 2011, the Noticee filed its written submissions. Subsequently, the consent application of the Noticee was rejected by SEBI. Hence the adjudication proceedings were revived and accordingly another opportunity of hearing was granted to the Noticee on December 27, 2011 vide hearing notice dated December 21, 2011. The hearing was attended by Mr. Sadanand, authorised representative (AR) of the Noticee. During the hearing the AR requested for adjournment of the hearing to January 3, 2012. The Noticee vide its letter dated January 3, 2012 replied to the question posed to it during the previous hearing. Pursuant to the transfer of the said matter to the undersigned from Mr. P.K. Bindlish, in the interest of natural justice another opportunity of hearing was granted to the Noticee on March 12, 2012 vide hearing notice dated February 21,
Adjudication Order in respect of Ashwini Trading Pvt. Ltd in the matter of Alka Securities Ltd. Page 4 of 7 March 28, 2012 b) Does the violation/s, if any, on the part of the Noticee attract monetary penalty under section 15A (a) of SEBI Act? c) If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of SEBI Act?
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Source: SecMarx — sebi:PG/TT/AO-17/2012. 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.