sebi:RA/DPS/128-134/2017

SEBI · SEBI · 2012-05-10 · Rachna Anand, Adjudicating Officer

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Facts / Headnote

Penalty of Rs. 1,00,00,000 imposed jointly and/or severally on Noticee Nos. 1 to 7 under section 15D(a) of the SEBI Act

Provisions invoked

Regulations

Parties

Holding

Noticee Nos. 1 to 7 violated section 12(1B) read with section 11AA of the SEBI Act and regulations 3 and 4 of the CIS Regulations by floating/sponsoring/carrying on collective investment schemes without registration, and a monetary penalty of Rs. 1,00,00,000 jointly and/or severally under section 15D(a) was imposed.

Full text

Adjudication Order in the matter of M/s. Beetal Livestocks and Farm Pvt. Ltd. Page 2 of 16 FACTS OF THE CASE 1. The Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) issued a common Show cause Notice dated May 10, 2012 to M/s Beetal Livestocks & Farm Private Limited, Shri Nizzamuddin Sabbir, Shri Abdul Slam, Shri Manish Girdhari, Shri Raju Jhunni, Shri Sarif Khan, and Shri Bharat Kumar (hereinafter referred to as ‘the Noticee No. 1 to 7 respectively or all may be referred to as “the Noticees” collectively’) separately calling them to show cause as to why appropriate actions including actions under the provisions of Section 11B of the SEBI Act, 1992 read with Regulation 65 of the CIS Regulations should not be taken against the Noticees. The Noticees failed to file their reply to the SCN's, despite being duly served on them or even after the public notice to this effect was published in the newspaper. In view of these facts and circumstances the matter was decided on the basis of the material available on record, SEBI passed an Order dated June 25, 2014 against the Noticees (The Noticee No. 1 (being a company), Noticee No. 2 – 7 (Directors) of the Noticee No. 1 / M/s Beetal Livestocks & Farm Private Limited) restraining and debarring the Noticees from accessing the securities market and further prohibiting them from buying, selling or dealing in securities market till all its collective investment schemes are wound up and all monies mobilized through th

Adjudication Order in the matter of M/s. Beetal Livestocks and Farm Pvt. Ltd. Page 3 of 16 3. A common Show Cause Notice No. EAO/RA/DPS/22418/2015 dated August 10, 2015 (hereinafter referred to as ‘SCN’) was issued against the Noticees under rule 4(1) of the Adjudication Rules to show cause as to why an inquiry should not be held and penalty be not imposed against them under sections 15D(a) of the SEBI Act for the aforesaid alleged violations.

Adjudication Order in the matter of M/s. Beetal Livestocks and Farm Pvt. Ltd. Page 4 of 16 Plan Min. Invst. ₹ 6000 (Value of 1 goat) 2.5% Profit per month for 10 years (120 months) Total Receipts Net Profit Profits ₹ 6,000 ₹ 18,000 ₹ 18,000 ₹ 12,000

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Source: SecMarx — sebi:RA/DPS/128-134/2017. 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.