sebi:SD/AO/103/2010
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Facts / Headnote
Noticee found guilty of violation of Section 11C(2) and 11C(3); penalty of Rs.1,00,000 imposed under Section 15A(a)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 11C
Parties
- M/s. Stockholm Mercantile Co. Pvt. Ltd.
Holding
The Noticee failed to comply with the Investigating Authority's summons dated March 15, 2007 in violation of Sections 11C(2) and 11C(3) of the SEBI Act, 1992, and is liable to penalty under Section 15A(a). A monetary penalty of Rs.1,00,000 was imposed on M/s. Stockholm Mercantile Co. Pvt. Ltd.
Full text
Page 2 of 8 account of its failure to furnish to the IA appointed by SEBI, information/documents regarding its dealings in the scrip of MCL by failing to comply with the summons and cooperate with the Investigating Authority.
Page 3 of 8 7. On considering the facts of the case, it was decided to conduct an inquiry in the matter and the Noticee was granted an opportunity of personal hearing. The Hearing Notice was attempted to be served on the Noticee by affixture at its last known address. However, the said hearing notice was not allowed to be affixed as the Noticee was not found at the said address. The inquiry is proceeded with taking into account the facts and material available on record.
Page 4 of 8 i. Relationship with the company MCL, its promoters, directors & associate companies & all individuals/entities mentioned in Annexure A annexed to the SEBI letter dated February 13, 2007 available on the record. ii. Details of purchase, sale & off market transactions done in the scrip of MCL for the period from January 01, 2005 to December 31, 2005 including date, name of broker, name of counter party, quantity & price and also copies of demat accounts for the said period. iii. All bank account statements for the period January 01, 2005 to December 31, 2005 showing details of payments made/received for the purchase/sale of shares of MCL & financing received, if any, for the purchase of shares.
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Source: SecMarx — sebi:SD/AO/103/2010. 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.