sebi:PKK/AO/156/2011
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Facts / Headnote
Violation found; penalty of Rs. 3,00,000 imposed under Section 15HA of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
Parties
- Shri Bhupendra Singh Rathore
Holding
The Noticee violated Regulations 3, 4(2)(a) and 4(2)(g) of the PFUTP Regulations by fraudulent synchronized and sham trades in the scrip of KDIL and is liable to a monetary penalty of Rs. 3,00,000 under Section 15HA of the SEBI Act.
Full text
Page 2 of 10 2. On the basis of an examination carried out, SEBI passed an exparte – interim order dated December 01, 2009 interalia directing Shri Bhupendra Singh Rathore (hereinafter referred to as the Noticee) not to buy, sell or deal in securities till further
Page 3 of 10 Show Cause Notice, Reply and Personal Hearing 5. The AO issued a notice dated May 11, 2011 (hereinafter referred to as ‘SCN’) under Rule 4 of the Adjudicating Rules to the Noticee to show cause as to why an inquiry should not be held against him and penalty be not imposed under Section 15 HA of the SEBI Act, for her alleged violation of the provisions of Regulations 3, 4(2) (a) and 4 (2) (g) of the PFUTP Regulations.
Page 4 of 10 8. Representative of the Noticee appeared before the undersigned for the said personal hearing and submitted that they have received the SCN and would submit a detailed reply within 15 days. It was also submitted that their intention to apply for consent proceedings. However, inspite of the lapse of more than a month from the date of hearing, the Noticee has not submitted any reply to the SCN nor has made any application for availing settlement under consent proceedings.
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Source: SecMarx — sebi:PKK/AO/156/2011. 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.