sebi:SD/AO/118/2009
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Facts / Headnote
Violation established; monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 12
- s. 15I
- s. 15J
- s. 11C
Parties
- Shri Vikas Gourihar Narnavar
Holding
The Noticee violated Section 11C(2) read with Section 11C(5) of the SEBI Act by failing to comply with the Investigating Authority's summonses and is liable for monetary penalty under Section 15A(a). A penalty of Rs.1,00,000 was imposed on Shri Vikas Gourihar Narnavar.
Full text
Page 2 of 9 the said summonses. The Noticee allegedly did not comply with the said summons. APPOINTMENT OF ADJUDICATING OFFICER:
Page 3 of 9 6. 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 before me on October 13, 2008. The Noticee failed to appear for the hearing on the scheduled date. In the interest of justice another hearing opportunity was given to the Noticee on October 16, 2008. The Noticee attended the said hearing and made oral submissions. The Noticee by letters dated October 30, 2008 and November 10, 2008 indicated his desire to opt for consent proceedings. On rejection of the Noticee’s matter in consent proceedings he was provided with another opportunity of hearing before me on September 16, 2009 which was attended by the Noticee and the Noticee submitted that the matter may be decided on the basis of his submissions, which have been interalia discussed in para 10 of this order.
Page 4 of 9 officer and other employee of the company and every intermediary referred to in section 12 or every person associated with the securities market to preserve and to produce to the Investigating Authority or any person authorised by it in this behalf, all the books, registers, other documents and record of, or relating to, the company or, as the case may be, of or relating to, the intermediary or such person, which are in their custody or power. (5) Any person, directed to make an investigation under sub-section (1), may examine on oath, any manager, managing director, officer and other employee of any intermediary or any person associated with securities market in any manner, in relation to the affairs of his business and may administer an oath accordingly and for that purpose may require any of those persons to appear before it personally.
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Source: SecMarx — sebi:SD/AO/118/2009. 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.