sebi:PKK/AO/188-189/2011
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Facts / Headnote
Penalty of Rs. 50,000 imposed on Ayodhyapati Investment Pvt. Ltd. under Section 15A(a) of SEBI Act for violation of Sections 11C(2) read with 11C(3); allegations against Mr. Anil Gandhi held not established and matter disposed of as against him.
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15I
- s. 15J
- s. 11C
- s. 12
Parties
- M/s Ayodhyapati Investment Pvt. Ltd.
- Mr. Anil Gandhi
Holding
Ayodhyapati Investment Pvt. Ltd. failed to comply with summons dated January 03, 2011 and February 10, 2011 and thereby violated Sections 11C(2) read with 11C(3) of the SEBI Act, warranting penalty of Rs. 50,000 under Section 15A(a); the allegations against Mr. Anil Gandhi do not stand established.
Full text
Page 2 of 9 2. During the investigation M/s Ayodhyapati Investment Pvt. Ltd. and its Director Mr. Anil Gandhi (hereinafter collectively referred to as the ‘Noticees’) failed to furnish the information sought by the Investigating Authority and thereby alleged to have violated Sections 11C (2) read with 11C (3) and 11C (5) of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’).
Page 3 of 9 after all the compliances on behalf of the company. But due to communication gap between them, the reply has not been submitted and there is no intention for non compliance of letter issued by SEBI.
Page 4 of 9 (2) Without prejudice to the provisions of sections 235 to 241 of the Companies Act, 1956 (1 of 1956), it shall be the duty of every manager, managing director, officer and other employee of the company and every intermediary referred to in section 12 or every person associated with the securities market to preserve and to produce to the IA or any person authorised by it in this behalf, all the books, registers, other documents and record of, or relating to, the company or, as the case may be, of or relating to, the intermediary or such person, which are in their custody or power.
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Source: SecMarx — sebi:PKK/AO/188-189/2011. 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.