sebi:PKK/AO/137/2010
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Facts / Headnote
Violation established; penalty of Rs. 1,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 12
Parties
- M/s. Cavalier Securities Private Limited
Holding
The Noticee violated Sections 11C(2) read with 11C(3) of the SEBI Act by failing to comply with summons dated July 18, 2005 and October 18, 2005 regarding its dealings in KCBFL, and is liable to a monetary penalty of Rs. 1,00,000 under Section 15A(a) of the SEBI Act, 1992.
Full text
Page 2 of 9 documents from the Noticee relating to its dealings in the scrip of KCBFL. The IA issued summons/notices dated July 18, 2005 & October 18, 2005 and the same were duly received by it as indicated by the acknowledgement available on record. The Noticee was required to furnish information regarding its dealings in the scrip of KCBFL. The Noticee failed to furnish the information as required. This has resulted in non- compliance of the summons.
Page 3 of 9 to the Noticee to show cause as to why an inquiry should not be held against it and penalty be not imposed under Sections 15A (a) of the SEBI Act, for its alleged violation of Section 11 C (2) read with Section 11 C (3) of the SEBI Act. The allegation against the Noticee is its failure to furnish the information sought by the IA. This has resulted in non- compliance of the summons. The SCN was sent to the Noticee through “Registered Post with A/d” but it was returned undelivered. The same was later published in the newspaper ‘Hindustan Times’ on June 10, 2010 and uploaded on the SEBI Website. However, the Noticee did not submit any reply to the SCN.
Page 4 of 9 available on record. In the instant matter the following issues arise for consideration and determination: a. Whether the Noticee had violated the provisions of Section 11C (2) & 11C (3) of the SEBI Act by its non- compliance of summons issued by the IA, SEBI? b. If yes, whether the Noticee is liable for monetary
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Source: SecMarx — sebi:PKK/AO/137/2010. 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.