sebi:VSS/AO-130/2009
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Facts / Headnote
Penalty of Rs.2,00,000 imposed under section 15A(a) for violation of sections 11C(2) and 11C(3)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 12
Holding
The Noticee violated sections 11C(2) and 11C(3) by failing to comply with two summonses issued by the Investigating Authority and is liable for penalty under section 15A(a). A monetary penalty of Rs.2,00,000 was imposed on the Noticee.
Full text
Page 2 of 9 APPOINTMENT OF ADJUDICATING OFFICER 3. The undersigned was appointed as Adjudicating Officer vide order dated March 27, 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 9 for consent under 11B proceedings for the investigation period from May 01, 2002 to September 30, 2002. As against this, the present proceedings are different inasmuch as the show cause notice was issued as part of the adjudication proceedings under the Adjudication Rules for the investigation period from May 14, 2001 to July 20, 2001. As August 05, 2009 was a holiday at Ahmedabad, the hearing was advanced to August 04, 2009.
Page 4 of 9 or any person authorized by it in this behalf, all the books, registers, other documents and record of, or relating to, the company or, as the case may be, of or relating to, the intermediary or such person, which are in their custody or power.
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Source: SecMarx — sebi:VSS/AO-130/2009. 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.