sebi:PKB/AO-90/2009
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed on the Noticee for violation of Section 11C(2)
Provisions invoked
- s. 15
- s. 15J
- s. 11(3)
- s. 15A
- s. 12
- s. 11C(2)
- s. 11C(6)
Regulations
- Reg. 13
- Reg. 7
- Reg. 7(1)
Parties
- Orbit Securities Pvt. Ltd.
Holding
The Noticee violated Section 11C(2) of the Act by failing to comply with the SEBI summons dated January 14, 2004 and is liable for monetary penalty under Section 15A(a) of the Act. A penalty of Rs. 2,00,000 was imposed on M/s. Orbit Securities Pvt. Ltd.
Full text
Adjudication Order in respect of Orbit Securities Pvt. Ltd. in the matter of Shalibhadra Infosec Ltd. Page 2 of 12 July 31, 2009 June 19th, 20th and 24th of 2002 to the effect that a meeting of its Board of Directors was to be held shortly to inter alia, consider buyback of 35,00,000 shares at Rs. 10 per share and carried a geographical representation of rising profits of the Company.
Adjudication Order in respect of Orbit Securities Pvt. Ltd. in the matter of Shalibhadra Infosec Ltd. Page 3 of 12 July 31, 2009
Adjudication Order in respect of Orbit Securities Pvt. Ltd. in the matter of Shalibhadra Infosec Ltd. Page 4 of 12 July 31, 2009
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Source: SecMarx — sebi:PKB/AO-90/2009. 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.