sebi:PM/NR/2020-21/10367
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Facts / Headnote
Violation established; penalty of Rs 5,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 11(3)
- s. 12
- s. 15I
- s. 15J
- s. 11C(6)
- s. 11C(3)
Parties
- Ganesh Anant Ghadge
Holding
The Noticee violated Sections 11(3) and 11C(3) of the SEBI Act by failing to comply with summons, and a monetary penalty of Rs 5,00,000 under Section 15A(a) was imposed.
Full text
Adjudication Order in respect of Ganesh Anant Ghadge in the matter of Kanchan International Ltd., Page 2 of 12 4. It was observed that the Noticee failed to produce the documents as sought by the Investigating Authority. Therefore, SEBI initiated Adjudication proceedings against the Noticee for violation of the provisions of Section 11(3) and 11C(3) of SEBI Act for not complying with the summons, under Section 15 A (a) of SEBI Act
Adjudication Order in respect of Ganesh Anant Ghadge in the matter of Kanchan International Ltd., Page 3 of 12 (b) It is submitted that all the impugned trades in the scrip of Kanchan were executed by Mr. Satish Mandovara. I will not able to answer all the questions raised in the SCN.
Adjudication Order in respect of Ganesh Anant Ghadge in the matter of Kanchan International Ltd., Page 4 of 12 10. After perusal of the material available on record, I have the following issues for consideration, viz.,
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Source: SecMarx — sebi:PM/NR/2020-21/10367. 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.