sebi:PG/TT/AO-19/2012
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Facts / Headnote
Proceedings disposed of without imposing any penalty
Provisions invoked
- s. 11
- s. 15A
- s. 15J
- s. 12
Parties
- Aster Mercantile Pvt. Ltd
Holding
The adjudication proceedings against Aster Mercantile Pvt. Ltd. for alleged non-compliance with summons were disposed of without imposing any penalty, giving benefit to the Noticee.
Full text
Adjudication Order in respect of Aster Mercantile Pvt. Ltd in the matter of Alka Securities Ltd. Page 2 of 7 March 28, 2012
Adjudication Order in respect of Aster Mercantile Pvt. Ltd in the matter of Alka Securities Ltd. Page 3 of 7 March 28, 2012 it was sent by speed post and was duly delivered. The hearing was attended by Mr. Pandurang Chorge, Authorised Representative of the Noticee. The Noticee was asked to submit proof of delivery regarding the information supposedly submitted by it to SEBI in response to the summons dated December 9, 2009. The Noticee submitted a letter dated March 7, 2011, 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 pervious 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, 2012. The said hearing notice was delivered through aff
Adjudication Order in respect of Aster Mercantile Pvt. Ltd in the matter of Alka Securities Ltd. Page 4 of 7 March 28, 2012
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Source: SecMarx — sebi:PG/TT/AO-19/2012. 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.