sebi:SD/AO/55/2010
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Facts / Headnote
Monetary penalty of Rs. 1,50,000 imposed on M/s M.R. Share Broking Pvt. Ltd.
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 11C
Parties
- M/s M.R. Share Broking Pvt. Ltd.
Holding
The Noticee violated Section 11C(5) of the SEBI Act by failing to comply with the summons dated November 22, 2004 and was held liable for monetary penalty under Section 15A(a) read with Section 15HB. A penalty of Rs. 1,50,000 was imposed on M/s M.R. Share Broking Pvt. Ltd.
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 June 2, 2006 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 15HB of the SEBI Act, the non- compliance of the requirements under 11C (5) of the SEBI Act by the Noticee.
Page 3 of 8 submitted its reply dated December 31, 2009 and April 29, 2010. The contents of the reply of the Noticee would be discussed later in this order.
Page 4 of 8 9. I observe from the available record that the Investigating Authority, SEBI had issued the said summons dated November 22, 2004 to the Noticee requiring it to appear before the Investigating Authority and furnish required information and documents on December 1, 2004. The said summons was sent to the Noticee by courier and was duly received as indicated by the courier tracking receipt available on record. It is alleged that the Noticee has failed to comply with the said summons. The Investigating Authority had issued further summons dated December 3, 2004 and January 28, 2005 and sent them through courier and Registered A.D. respectively, which have been duly delivered.
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Source: SecMarx — sebi:SD/AO/55/2010. 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.