sebi:PKK/AO/152/2010
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Facts / Headnote
Violation established; penalty of Rs. 10,00,000 imposed under Section 15A(a) of SEBI Act, 1992
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 12
Parties
- M/s. Asian Films Production and Distribution Limited (earlier known as K C Bokadia Films 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 14, 2005 issued by the Investigating Authority, and is liable to a monetary penalty of Rs. 10,00,000 under Section 15A(a) of the SEBI Act, 1992.
Full text
Page 2 of 9 2. SEBI has written number of letters to the Managing Director and KCBFL seeking various information about the company. Since no reply was received from them, SEBI launched a formal investigation in 2005. The Investigating Authority (hereinafter referred to as ‘IA’) appointed by SEBI sought information and documents from KCBFL such as name and address of all promoters, directors, associate companies etc, details of corporate announcements, if any and details of shares of KCBFL sold/bought by the promoters/directors etc. The IA issued summons/notices dated July 18, 2005 and October 14,
Page 3 of 9 dated August 17, 2010, appointed the undersigned as the AO in the instant matter. Show Cause Notice, Reply and Personal Hearing
Page 4 of 9 Another hearing notice dated October 7, 2010 was issued advising the Noticee to appear before the AO on October 26, 2010 for the personal hearing at SEBI Head Office. The Notice of hearing was served on the Noticee by affixing the same at the Noticee’s last known address, in accordance with Rule 7(c) of the Adjudication Rules. The Noticee, however, did not appear before the undersigned for the said personal hearing.
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Source: SecMarx — sebi:PKK/AO/152/2010. 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.