sebi:PKK/AO/98/2011
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Facts / Headnote
Noticee found guilty of violation of Section 11C(6) and penalty of Rs 5,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 27
Parties
- Shri Dinesh Dalmia
Holding
The Noticee violated Section 11C(6) of the SEBI Act by failing to comply with the summonses issued by the Investigating Authority and is liable to a monetary penalty of Rs 5,00,000 under Section 15A(a) of the SEBI Act.
Full text
Page 2 of 16 of the company, (3) Stay orders on transfer of 28% of the equity (in three disputed transactions in the scrip (a) Commonwealth Development Corporation (CDC) v. Shri Dinesh Dalmia, (b) DSQ Industries Ltd. v. UTI Bank and (c) M/s. Powerflow Holding and Trading Company v. Hakeem Auto Ltd.,) and (4) Various positive announcements made by the officials of DSQ.
Page 3 of 16 (Procedure for Holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudicating Rules’) to inquire into and adjudge under Section 15A of the SEBI Act, 1992 (hereinafter referred to as the ‘SEBI Act’) the alleged violation by the Noticee of the provisions Sections 11C (6) of the SEBI Act. Consequent to Mrs. Rayudu being sent on deputation, Mr. Sandeep Deore was appointed as the AO vide SEBI Order dated November 23,
Page 4 of 16 without instruction’. There after the SCN was served on the Noticee by affixture on October 25, 2010 at his last known address as provided for in Rule 7 (c) of the Adjudicating Rules. However, the Noticee did not submit any reply to the SCN.
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Source: SecMarx — sebi:PKK/AO/98/2011. 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.