sebi:SD/AO/170/2009
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Facts / Headnote
Penalty imposed on Noticee for violation of Section 11C(2) read with 11C(5) of the SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
- s. 11C
- s. 12
Parties
- Shri Bimlesh Kumar Mishra
Holding
The Noticee, Shri Bimlesh Kumar Mishra, was held liable for violating Section 11C(2) read with 11C(5) of the SEBI Act by failing to comply with summonses issued by the Investigating Authority, and a monetary penalty of Rs. 7,00,000 was imposed under Section 15A(a) of the SEBI Act.
Full text
Page 2 of 8 APPOINTMENT OF ADJUDICATING OFFICER: 2. Ms. Babita Rayudu was appointed as the Adjudicating Officer vide Order of SEBI dated September 07, 2007 under section 15-I of the SEBI Act, 1992 (hereinafter referred to as the ‘SEBI Act’) read with Rule 3 of SEBI (Procedure for holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) to inquire into and adjudge under Section 15A (a) of the SEBI Act, the non- compliance of the requirements under Section 11C (2) read with 11C (5) of the SEBI Act by the Noticee.
Page 3 of 8 CONSIDERATION OF ISSUES AND FINDINGS: 7. I have carefully perused the charges against the Noticee mentioned in the SCN and the documents available on record. The issue that arises for consideration in the present case is as follows:
Page 4 of 8 9. I observe from the available record that the Investigating Authority had issued various summonses to the Noticee requiring him to furnish specific information and documents mentioned therein. It is alleged that the Noticee has failed to comply with the said summonses. Brief details of the summonses issued to the Noticee are as under:
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Source: SecMarx — sebi:SD/AO/170/2009. 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.