sebi:SD/AO/156/2009
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed for failure to comply with summonses
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
- s. 11C(2)
- s. 11C(5)
Parties
- Shri Rajesh Panchal
Holding
Shri Rajesh Panchal failed to provide necessary information in response to the investigating authority's summonses dated July 22, 2005 and August 17, 2005 in violation of Section 11C(2) read with Section 11C(5) of the SEBI Act, and a penalty of Rupees Two Lakh under Section 15A(a) was imposed.
Full text
Page 2 of 10 3. It is alleged that the investigating authority of SEBI issued summonses dated July 22, 2005 and August 17, 2005 to the Noticee requiring the him to furnish the details regarding his dealings in the shares of SYPCL. It is alleged that the Noticee failed to comply with the said summonses and failed to submit the information to the investigating authority.
Page 3 of 10 inquiry in the matter and the Noticee was granted an opportunity of personal hearing and accordingly was advised to attend the hearing on March 20, 2008. However, the Noticee failed to appear for the personal hearing and even failed to submit any kind of reply.
Page 4 of 10 an entity can be detrimental to the interests of investors and securities market on account of any delay in the investigation.
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Source: SecMarx — sebi:SD/AO/156/2009. 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.