sebi:SD/AO/151/2009
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Facts / Headnote
Penalty of Rs.2,00,000 imposed on Noticee Krishna Wanti for violation of Regulations 3, 4(1) and 4(2)(a) of PFUTP Regulations; copy of order to be sent to Noticee and to SEBI.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Krishna Wanti
Holding
The Noticee violated Regulations 3, 4(1) and 4(2)(a) of the PFUTP Regulations and is liable to a monetary penalty of Rs.2,00,000 under Section 15HA of the SEBI Act.
Full text
Page 2 of 10 2. It was observed that Mr. Krishna Wanti (hereinafter referred to as “Noticee”) along with promoters and / or Directors of KEWL and / or entities related to KEWL viz. Gurbachan Juneja, Mukesh Juneja, Amrik Singh, Monica Juneja, Charanjit Singh, Gouri Mahajan were involved in off market transactions with the entities who had given contact telephone number same as that of KEWL in the KYC forms submitted to their Depository Participant (DP). The details of off market transactions entered by and between various entities were provided to Noticee as an Annexure 1 to Show Cause Notice (SCN). It is alleged that Noticee who was the promoter of KEWL transferred 679200 shares of KEWL to Mr. Sunil Kumar through off market on December 27, 2004 who in turn offloaded the same in the market after premature and misleading corporate announcement and the December 2004 quarter results. It is alleged that Noticee had offloaded the said shares in the market at higher prices through the said entity.
Page 3 of 10 Adjudicating Officer) Rules, 1995 (hereinafter referred to as the Adjudicating Rules) to inquire into and adjudge under Sections 15 HA of the SEBI Act, the alleged violation of the provisions of Regulations 3, 4(1) and 4(2)(a) of PFUTP Regulation.
Page 4 of 10 and failed to appear for personal hearings inspite of giving an opportunity, the inquiry is proceeded with taking into account the facts and material available on record.
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Source: SecMarx — sebi:SD/AO/151/2009. 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.