sebi:PKB/AO-25/2009
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Facts / Headnote
Adjudication proceedings disposed of without imposing any penalty
Provisions invoked
- s. 15A
- s. 11C
- s. 11C(3)
Parties
- M/s. Sushovin Vinimay Pvt. Ltd.
Holding
The Adjudicating Officer held that it could not be conclusively established that the Noticee violated section 11C(3) of the SEBI Act, and therefore imposed no penalty under section 15A.
Full text
Page 2 of 4 sought through the aforesaid summons, thus violating the provisions of section 11C(3) of the Act. 3. Accordingly, Adjudication Proceedings under Chapter VI A of the Act were initiated in respect of the Noticee. Mr. A. Chandrasekhar Rao was appointed as the Adjudicating Officer (hereinafter to be referred to as “AO”) vide order dated July 8, 2004 to inquire into and adjudicate under section 15A of the Act, the failure on part of the Noticee to furnish information and to comply with the SEBI summons in violation of the provisions of section 11C(3) of the Act.
Page 3 of 4 7. The Noticee did not reply to the SCNs and subsequently, Notice of Inquiry dated March 5, 2009 was issued to the Noticee, fixing the Inquiry on April 1,
Page 4 of 4 ORDER 12. In view of my findings noted in the preceeding paragraphs, I do not impose any penalty on M/s. Sushovin Vinimay Pvt. Ltd. and dispose of the Adjudication proceedings accordingly.
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Source: SecMarx — sebi:PKB/AO-25/2009. 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.