sebi:SRP/DT/AO-99/2010
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Facts / Headnote
Proceedings against Tanay N. Shah disposed of as liable to abate with no penalty imposed
Provisions invoked
- s. 11
Parties
- Tanay N. Shah
Holding
The proceedings against Tanay N. Shah are liable to abate and are accordingly disposed of without imposition of any penalty because he was a minor at the time of the alleged violations.
Full text
2 the Noticee’s passport (No. A5651396), wherein, his date of birth is mentioned as August 08, 1997 – hence, as of date the Noticee is only twelve years of age, and a minor.
3 was addressed to SEBI , wherein, Mr. Nihal Shah has inter alia, mentioned the following – “ I am Nihal Shah, Tanay Shah’s father. As he is Minor, I am responsible for the transactions done in Gemstone Investment Ltd.”
3. The Hon’ble Supreme Court in the matter of Ritesh Agarwal and Another. …v/s… SEBI and Others [2008] INDLAW SC 989 inter-alia held –
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Source: SecMarx — sebi:SRP/DT/AO-99/2010. 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.