sebi:SL/NR/2021-22/15794

SEBI · SEBI · 2021-07-02 · Siddhesh Lotlikar, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings abated; no penalty imposed

Provisions invoked

• s. 19
• s. 15H
• s. 15I

Regulations

• Reg. 3(a)

Parties

• Late Smt. Pushpa Kariwala (PAN: AEUPK9153N)

Holding

The adjudication proceedings initiated against the Noticee, Late Smt. Pushpa Kariwala, are abated without going into the merits of the case, and no penalty is imposed.

Full text

Adjudication Order in respect of Pushpa Kariwala in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 3 APPOINTMENT OF ADJUDICATING OFFICER

Adjudication Order in respect of Pushpa Kariwala in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 3 7. In view of the above, I am of the view that the adjudication proceedings initiated against the Noticee does not survive and is liable to be abated without going into the merits of the case. Consequently, no penalty is imposed on the Noticee who is since deceased and the Adjudication Proceedings against the Noticee stand abated

3. SEBI initiated Adjudication proceedings and appointed the undersigned as the Adjudicating Officer vide order dated July 2, 2021 under Section 19 read with Sub- section (1) of Section 15I of the SEBI Act and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter be referred to as, the “SEBI Adjudication Rules”) to inquire into and adjudge under Section 15HA of SEBI Act, against the Noticee for the alleged violations of the aforesaid provisions of SEBI (PFUTP) Regulations. The appointment of the AO was communicated vide order dated July 6, 2021.

Source: SecMarx — sebi:SL/NR/2021-22/15794. 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.