sebi:SD/AO/82/2010
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Facts / Headnote
Penalty of Rs. 5,00,000 imposed on the Noticee for violation of Section 11C(2) and 11C(3) punishable under Section 15A(a)
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
- s. 11C(2)
Parties
- Mr. Kalpesh R Babariya
Holding
The Noticee failed to comply with the summons dated March 07, 2007, March 20, 2007 and April 05, 2007 issued under Sections 11C(2) and 11C(3) of the SEBI Act. A monetary penalty of Rs. 5,00,000 was imposed on Mr. Kalpesh R Babariya under Section 15A(a) of the SEBI Act.
Full text
Page 2 of 11 the Noticee’s involvement in manipulation in the scrip of KCL and offer Noticee’s comments in detail alongwith the required information/documents. It is 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 11 be pasted. Adequate efforts have been made to deliver the said SCN to Noticee and inspite of the same, the said SCN could not be delivered.
Page 4 of 11 during the investigation period, purchased 140000 shares through Vijay B Shah on March 24, 2005 and transferred the said shares to Vijay B Shah who 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/82/2010. 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.