sebi:PKB/AO-147/2009
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of Rs. 1,00,000 imposed on Ranger Investment and Leasing Ltd. for non-compliance of summons
Provisions invoked
- s. 11
- s. 24
- s. 15A
- s. 11(3)
- s. 12
- s. 15J
- s. 15
- s. 11C
Parties
- Ranger Investments and Leasing Ltd.
Holding
The Adjudicating Officer held that Ranger Investment and Leasing Ltd. failed to comply with the summons dated June 3, 1999 issued under Section 11(3) of the SEBI Act, 1992 in violation of Section 11C(2). A penalty of Rs. 1,00,000 was imposed under Section 15A(a) of the SEBI Act.
Full text
Adjudication Order In Respect of Ranger Investments and Leasing Ltd. In The Matter of Blue Information Technology Ltd. Page 2 of 8 12/11/2009 published in the newspapers and the bogus dividend payout announced by the company. The price rise was also fueled due to fact that such announcements were made at times when there was a general euphoria in the stock markets with regard to software companies.
Adjudication Order In Respect of Ranger Investments and Leasing Ltd. In The Matter of Blue Information Technology Ltd. Page 3 of 8 12/11/2009
Adjudication Order In Respect of Ranger Investments and Leasing Ltd. In The Matter of Blue Information Technology Ltd. Page 4 of 8 12/11/2009 APPOINTMENT OF ADJUDICATING OFFICER
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Source: SecMarx — sebi:PKB/AO-147/2009. 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.