sebi:PKK/AO/254/2010
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Facts / Headnote
Allegations not established; matter disposed of without penalty
Provisions invoked
- s. 15H
- s. 15
Regulations
- Reg. 4
Parties
- Ms. Premlata Nathany
Holding
The allegations of violation of Regulations 4(2)(a) and 4(2)(e) of the PFUTP Regulations against Ms. Premlata Nathany were held not established and the adjudication matter was accordingly disposed of.
Full text
Page 2 of 6 ‘SEBI Act’) read with Rule 3 of the SEBI (Procedure for holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) to inquire into and adjudge under Section 15HA of the SEBI Act, the alleged violation of the provisions of Regulations 4 (2) (a) and 4 (2) (e) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as the ‘PFUTP Regulations’) by the Noticee. Consequent to Ms. Babita Rayudu proceeding on deputation out of SEBI, Shri Sandeep Deore was appointed as the Adjudicating Officer in the instant matter vide SEBI Order dated November 23, 2007. The AO vide
Page 3 of 6 executed by the Noticee were provided to her as Annexure to the SCN. The Noticee submitted her reply vide letter dated July 31, 2010. The Noticee submitted inter alia that she had purchased the shares within the price range of Rs.85.10 and Rs.135.10. If she had any ulterior motive, she could have sold the shares when the share price touched Rs.332 at CSE, but the shares are still being held in her demat account. The price fell to around Rs.31 and there are no buyers for the shares. All trades done by her were purchase trades for which payments were given by cheques, deliveries were received and no trade was speculative. The Noticee denied all allegations made in the SCN.
Page 4 of 6 If yes, what should be the quantum of monetary penalty? 7. Before proceeding to decide the above issue, it is important to have a look at the abovementioned provisions as they existed at the relevant time. The same read as follows.
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Source: SecMarx — sebi:PKK/AO/254/2010. 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.