sebi:SBM/AO-1/2011
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Facts / Headnote
Violation established ex-parte; monetary penalty of Rs.3,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
Parties
- M/s Clip Securities and Finance Private Limited
Holding
The Noticee violated sections 11C(3) and 11C(5) read with section 11(3) of the SEBI Act by failing to comply with four summonses issued by the Investigating Authority, and is liable for monetary penalty under section 15A(a). A penalty of Rs.3,00,000 was imposed.
Full text
Page 2 of 9 2. The findings of the investigation led to the allegation that M/s Clip Securities and Finance Private Limited. (hereinafter referred to as “CLIP / Noticee”) had not complied with the summonses issued to them by SEBI to furnish information and therefore violated the provisions of sections 11C (3) and 11C (5) read with section 11 (3) of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’) and consequently, liable for monetary
Page 3 of 9 Notice. In the interest of natural justice and in order to conduct an inquiry as per Rule 4 (3) of the Rules, the noticee was granted an opportunity of personal hearing on 29/12/09 at 11.AM. The said hearing notice sent to the Noticee also returned undelivered as the office at the above said address was closed.
Page 4 of 9 such information or the production of such books, or registers, or other documents, or record is relevant or necessary for the purposes of its investigation.
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Source: SecMarx — sebi:SBM/AO-1/2011. 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.