sebi:SD/AO/74/2010
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Facts / Headnote
Noticee found guilty; penalty of Rs. 1,50,000 imposed under Section 15A(a) of the SEBI Act, 1992
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
- s. 11C(2)
Parties
- Mr. Jayesh Shah
Holding
The Noticee, Mr. Jayesh Shah, was found guilty of failing to comply with the summons dated March 07, 2007 issued by the Investigating Authority of SEBI and failing to provide necessary information/documents, and a penalty of Rs. 1,50,000 was imposed under Section 15A(a) of the SEBI Act, 1992.
Full text
Page 2 of 10 alleged that the Noticee failed to comply with the said summons and failed to submit the information/documents to the Investigating Authority. It is observed from the available records that Noticee had duly received the said summons, the details of which are produced in later part of this order.
Page 3 of 10 the matter and the Noticee was granted an opportunity of personal hearing and accordingly was advised to attend the hearing on June 07, 2010 but the said hearing notice which was sent for pasting was not allowed to be pasted at the last known address of the Noticee. It is noted that adequate efforts had been taken to deliver the Hearing Notice to the Noticee. However, neither the Noticee nor its authorised representative appeared before me. The Noticee has also failed to file any written
Page 4 of 10 during the investigation period, purchased 482999 shares and sold 398678 shares through Vijay B Shah. It is also alleged that Noticee received 224585 shares on March 03, 2005 from Prasad S Tandel, Vijay B Shah and Girdharbhai Vagadiya. Vijay B Shah was observed to be transferring shares through off market deals to various entities of the group who subsequently sold these shares in the market.
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Source: SecMarx — sebi:SD/AO/74/2010. 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.