sebi:VSS/AO-120/2009
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Facts / Headnote
Noticee held liable for violation of sections 11C(2) and 11C(3) and monetary penalty of Rs.10,000 imposed under section 15A(a)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 12
Regulations
- Reg. 11C(2)
Holding
The Noticee violated sections 11C(2) and 11C(3) of the SEBI Act by failing to appear and furnish information in response to two summonses, attracting penalty under section 15A(a), and a penalty of Rs.10,000 was imposed.
Full text
Page 2 of 10 APPOINTMENT OF ADJUDICATING OFFICER 3. The undersigned was appointed as Adjudicating Officer vide order dated April 07, 2008 under section 15 I of the SEBI Act read with rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Rules’) to inquire into and adjudge under section 15A(a) of the SEBI Act.
Page 3 of 10 (b) He was an employee of STEL and carried out work relating to repairing of computers on a monthly salary of Rs.2,500/-.
Page 4 of 10 I had never opened any BO account. I had also not applied for any shares in the said company. If you have any doubt on my statement, you may verify with the DP. I request you to condone my lapses and take a lenient view in the matter.
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Source: SecMarx — sebi:VSS/AO-120/2009. 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.