sebi:SD/AO/05/2008
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; penalty of Rs. 3,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 11C(2)
- s. 11C(5)
Parties
- Shri Kirit Pandya
Holding
Shri Kirit Pandya was held guilty of violating Section 11C(2) read with Section 11C(5) of the SEBI Act for failing to comply with summons issued by the investigating authority, and a penalty of Rupees Three Lakh (Rs. 3,00,000/-) was imposed under Section 15A(a) of the SEBI Act, 1992.
Full text
Page 2 of 8 violation of the provisions of Section 11C(2) read with Section 11C(5) of the SEBI Act. 5. Consequently, the then Adjudicating Officer was sent on deputation and thereafter the undersigned was appointed as the Adjudicating Officer in the instant matter vide SEBI order dated November 23, 2007.
Page 3 of 8 detrimental to the interests of investors and securities market on account of any delay in the investigation.
Page 4 of 8 highlighting the transactions of payments received and also state at which price these transactions took place.
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Source: SecMarx — sebi:SD/AO/05/2008. 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.