sebi:PKK/AO/276/2010
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Facts / Headnote
Violation established; monetary penalty of Rs. 1,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 15
- s. 15J
- s. 15A
- s. 11C
- s. 12
Parties
- Shri Ramniklal Manjibhai Patel
Holding
The Noticee violated Section 11C(2) read with Section 11C(5) of the Act by failing to comply with the Investigating Authority's summons and is liable under Section 15A(a). A monetary penalty of Rs. 1,00,000 was imposed on Shri Ramniklal Manjibhai Patel.
Full text
Page 2 of 7 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 7 neither the Noticee nor his representative submitted any reply to the SCN. In the absence of any written reply submitted by the Noticee, the AO
Page 4 of 7 The Act Investigation. 11C (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 Investigating Authority 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. (5) Any person, directed to make an investigation under sub-section (1), may examine on oath, any manager, managing director, officer and other employee of any intermediary or any person associated with securities market in any manner, in relation to the affairs of his business and may administer an oath accordingly and for that purpose may require any of those persons to appear before it personally.
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Source: SecMarx — sebi:PKK/AO/276/2010. 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.