sebi:SD/AO/66/2010
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Facts / Headnote
Allegations not established; matter disposed without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
Parties
- Pankaj Shah
Holding
The allegations against Noticee Pankaj Shah under Regulations 4(1), 4(2)(a), (b), (e) and (g) of the PFUTP Regulations do not stand established. The show cause notice is disposed accordingly without imposition of penalty under section 15HA of the SEBI Act.
Full text
Page 2 of 10 by a sudden spurt in the average monthly volume thousand times over the previous period to around 1, 56, 22, 538 shares while average daily volume during the said period was 744740 shares as against the average volume of 2000 shares per day for the period from January 1- 24, 2005.
Page 3 of 10 APPOINTMENT OF ADJUDICATING OFFICER 4. Ms. Babita Rayudu was appointed as Adjudicating Officer vide order dated June 19, 2007 under section 15 I of SEBI Act read with Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the Noticee’s alleged violations of Regulations 4 (1), 4 (2) (a), (b), (e) and (g) of the PFUTP Regulations.
Page 4 of 10 was given to the Noticee on February 16, 2010 vide Notice of Hearing dated January 19, 2010 at SEBI Head Office, Mumbai. The Noticee had appeared and sought time to make additional submissions. A third opportunity of personal hearing was granted to the Noticee on March 25, 2010 vide Notice of Hearing dated March 8, 2010. On the scheduled date and time, Mr. Aditya Bhansali and Mr. J J Bhat the authorized representatives for the Noticee had appeared and made oral
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Source: SecMarx — sebi:SD/AO/66/2010. 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.