sebi:PKK/AO/225/2010
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Facts / Headnote
Violation established; monetary penalty of Rs. 2,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 15
- s. 15J
- s. 15A
- s. 11C
- s. 12
Parties
- Shri Nishit B. Mehta
Holding
The Noticee violated Section 11C(2) read with Section 11C(5) of the SEBI Act by failing to comply with three summonses issued by the Investigating Authority and is liable to monetary penalty under Section 15A(a), quantified at Rs. 2,00,000.
Full text
Page 2 of 8 2. SEBI has therefore, initiated adjudication proceedings under the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the ‘Act’) against the Noticee to inquire into and adjudge the alleged violations of the provisions of Section 11C (2) read with Section 11C (5) of the Act.
Page 3 of 8 written reply submitted by the Noticee, the AO considered the matter on the basis of the material available on record. The AO accordingly decided to conduct an inquiry. The AO granted an opportunity of personal hearing to the Noticee by issuing a letter dated December 10, 2009 advising him to appear before him on December 18, 2009 for the personal hearing. The notice of hearing was served on the Noticee by Affixture on December 17 2009.
Page 4 of 8 Consideration of Issues, Evidence and Findings 10. I have carefully perused the charges against the Noticee mentioned in the SCN, submissions made at the time of personal hearing, the written
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Source: SecMarx — sebi:PKK/AO/225/2010. 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.