sebi:PKK/AO/274/2010
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Facts / Headnote
Noticee held to have violated PFUTP Regulations; monetary penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Mr. Ramdas Kshirsagar
Holding
The Noticee violated Regulations 3(a), (b), (c), & (d) and 4(1) of the PFUTP Regulations, 2003 and is liable to a monetary penalty of Rs. 1,00,000 under Section 15HA of the SEBI Act, 1992.
Full text
Page 2 of 7 securities of EL in any manner, directly or indirectly, till further directions are given in this regard. Mr. Ramdas Kshirsagar was one of the entities named in the said Order.
Page 3 of 7 6. The SCN was sent through Registered Post A.D. and the same was returned undelivered. Subsequently, the SCN was duly served on the Noticee by affixture on October 9, 2010 at his last known address as provided in Rule 7 (3) of the Adjudication Rules. The Noticee did not submit any reply to the SCN. In the absence of any submissions made by the Noticee, on considering the facts of the case as available on record, it was decided to conduct an inquiry in the matter.
Page 4 of 7 b) Does the violation, if any, on the part of the Noticee attract monetary penalty under section 15 HA of SEBI Act? c) If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of SEBI Act?
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Source: SecMarx — sebi:PKK/AO/274/2010. 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.