sebi:SD/AO/25/2010
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed under Section 15A(a) of the SEBI Act, 1992
Provisions invoked
- s. 15A
- s. 15
- s. 11
- s. 15J
- s. 11C
- s. 11C(3)
Parties
- Shri C J Kumar
Holding
Shri C J Kumar failed to comply with summons/notices dated May 6, 2004 issued by the Investigating Authority under Section 11C(3) and is liable under Section 15A(a) of the SEBI Act, 1992. A monetary penalty of Rupees One Lakh only (Rs. 1,00,000/-) was imposed on him.
Full text
Page 2 of 6 subsequently transferred by the company to the associate companies of Shri Harish Bhasin or the entities controlled by Shri Harish Bhasin for his personal benefit. Information in this regard was sought from AIL and letters were sent at its available addresses, which were obtained from TMF, ROC, New Delhi. However all the letters have returned undelivered and it has been informed by ‘The Pradeshiya Industrial and Investment Corporation of U.P. Ltd’ that the Noticee is one of the Directors/Guarantors of the Company’s Unit situated at Noida. In the light of the same, the Noticee has been advised to offer his comments on the allegations made in the aforesaid complaint against AIL. Further, the Noticee has been asked to provide the details of the Company’s Bank Accounts, where the aforesaid amounts from TMF have been deposited including the account number, name of the bank, branch and address and also copy of bank statement for March-April 2000. It is alleged that the Noticee failed to comply with the said summons/Notices and failed to submit the information/documents to the Investigating Authority.
Page 3 of 6 8. On considering the facts of the case, it was decided to conduct an inquiry in the instant matter and the Noticee was granted an opportunity of personal hearing by the undersigned on February 25, 2010 vide Notice of Hearing dated February 10, 2010 at SEBI Ahmedabad Regional Office, Unit No.002, Ground Floor, Sakar-I, near Gandhigram Railway Station., opp. Nehru Bridge, Ashram Road, Ahmedabad-380009. However, the Hearing Notice has returned undelivered with the remarks ‘shifted’ and thus the Noticee did not take any efforts whatsoever, to inform SEBI of the new address.
Page 4 of 6 from the details stated in the preceding paragraphs that the Investigating Authority was seeking Noticee’s comments on the
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Source: SecMarx — sebi:SD/AO/25/2010. 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.