sebi:SD/AO/32/2010
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Facts / Headnote
Adjudication proceedings disposed of without imposition of monetary penalty
Provisions invoked
- s. 15H
- s. 15I
- s. 15
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Anita Kothari
Holding
The adjudication proceedings against Anita Kothari were disposed of without imposing any monetary penalty under Section 15HA of the SEBI Act.
Full text
Page 2 of 9 2. The Investigation Report (hereinafter referred to as ‘IR’) revealed that the scrip of FTEL was thinly traded before the investigation period. Further, various entities such as promoters, some brokers and connected clients were allegedly found to have been involved in the activities of manipulation in the price of the scrip of FTEL in a fraudulent manner. The activities of these entities allegedly facilitated the creation of artificial volume and influenced the scrip price of FTEL in the securities market.
Page 3 of 9 and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’) r/w 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 15HA of the SEBI Act, the alleged violations of the abovementioned provision of PFUTP Regulations committed by the Noticee. SHOW CAUSE NOTICE/REPLY/PERSONAL HEARING :
Page 4 of 9 CONSIDERATION OF ISSUES AND FINDINGS : 8. I have carefully perused the charges against the Noticee mentioned in the SCN, the written and oral submissions of the Noticee and the documents available on record. In her submissions dated November 24, 2009, the Noticee has raised certain preliminary issues regarding the maintainability of the instant adjudication proceedings. The Noticee has inter alia questioned the power of the undersigned to inquire into and adjudge the instant matter u/s 15HA of the SEBI Act. In light of the above, the first and foremost Preliminary Issue is:
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Source: SecMarx — sebi:SD/AO/32/2010. 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.