sebi:PKB/AO-104/2010
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Facts / Headnote
Charges under Regulations 3, 4(1), 4(2)(a), (b), (e) and (g) not established; penalty of Rs 5,00,000 imposed under Section 15A(a) for violation of Regulation 8(1) read with Section 11C(2) and (3).
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 11(3)
- s. 15J
- s. 11C
- s. 12
Regulations
- Reg. 7
- Reg. 3
- Reg. 6
- Reg. 8
Parties
- Oasis Cine Communication Ltd.
Holding
The noticee did not violate Regulations 3, 4(1), 4(2)(a), (b), (e) and (g) PFUTP Regulations, but violated Regulation 8(1) PFUTP read with Sections 11C(2) and (3) by failing to comply with three summonses, attracting a monetary penalty of Rs 5,00,000 under Section 15A(a).
Full text
Adjudication Order In Respect of Oasis Cine Communication Ltd. August 26, 2010 Page 2 of 10 4. In view of the above, the noticee was alleged to have violated the provisions of Regulations 3, 4 (1), 4 (2) (a), (b), (e), (g) and 8 (1) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as the ‘PFUTP Regulations’) read with Section 11 C (2) and (3) of SEBI Act, 1992 (hereinafter referred to as ‘the Act’).
Adjudication Order In Respect of Oasis Cine Communication Ltd. August 26, 2010 Page 3 of 10 CONSIDERATION OF ISSUES 8. On perusal of the Show Cause Notice, the noticee’s submissions and other material available on record, I have the following issues for consideration, viz,
Adjudication Order In Respect of Oasis Cine Communication Ltd. August 26, 2010 Page 4 of 10 (c) employ any device, scheme or artifice to defraud in connection with dealing in or issue of securities which are listed or proposed to be listed on a recognized stock exchange; (d) engage in any act, practice, course of business which operates or would operate as fraud or deceit upon any person in connection with any dealing in or issue of securities which are listed or proposed to be listed on a recognized stock exchange in contravention of the provisions of the Act or the rules and the regulations made there under.
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Source: SecMarx — sebi:PKB/AO-104/2010. 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.