sebi:VSS/AO-169/2009
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Facts / Headnote
Penalty imposed on Noticee for failure to comply with summonses under sections 11C(2) and 11C(3) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 12
Regulations
- Reg. 11C(2)
Parties
- Ranka Rajeshkumar Mangilal (also known as Rajesh M. Ranka / Rajesh Jain)
Holding
The Noticee was held liable for violating sections 11C(2) and 11C(3) of the SEBI Act by failing to comply with four summonses issued by the Investigating Authority, and a monetary penalty of Rs. 10,00,000 was imposed under section 15A(a) of the SEBI Act.
Full text
Page 2 of 16 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 16 • I, Ranka Rajeshkumar Mangilal, is called in the names of Rajesh M. Ranka and Rajesh Jain. A copy of my driving license is submitted in support of my identity. Rakesh Ranka is my own brother.
Page 4 of 16 11C. Investigation (2). Without prejudice to the provisions of sections 235 to 241 of the Companies Act, 1956, it shall be the duty of every manager, managing director, officer and other employee of the company and every intermediary referred to in section 12 or every person associated with the securities market to preserve and to produce to the Investigating Authority 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-169/2009. 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.