sebi:PKK/AO/41/2011
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed under Section 15A(a) for violation of Section 11C(3)
Provisions invoked
- s. 15A
- s. 15
- s. 11
- s. 15J
- s. 11C
- s. 11C(3)
Holding
The Noticee violated Section 11C(3) of the SEBI Act, 1992 by failing to comply with the summons dated May 6, 2004 issued by the Investigating Authority, and a monetary penalty of Rupees One Lakh was imposed under Section 15A(a).
Full text
Page 2 of 7 have been deposited including the account number, name of the bank, branch and address and also copy of bank statement for March-April 2000. It is alleged that the Noticee failed to comply with the said summons/Notice and failed to submit the information/documents to the IA.
Page 3 of 7 to why an inquiry should not be held against him in respect of the alleged violations. The SCN has been duly delivered to the Noticee through Ahmedabad Stock Exchange Limited on June 26, 2006. The Noticee has not filed any reply to the SCN.
Page 4 of 7 CONSIDERATION OF EVIDENCE AND FINDINGS 9. Brief facts giving rise to the present proceedings are as under: TMF had made an investment to the tune of Rs. 3 crores in AIL on March 31, 2000 which allegedly was transferred by AIL to certain entities. In relation to the alleged transfers of money, the IA issued summons to AIL under Section 11C (3)1 to seek further information. Thereafter, summons dated May 6, 2004 has been issued to the Noticee under Section 11C(3) by the IA compelling the production of the documents specified in the said summons and which are stated elsewhere in this
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Source: SecMarx — sebi:PKK/AO/41/2011. 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.