sebi:VSS/AO-82/2009
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Disposed of without imposition of separate penalty
Provisions invoked
- s. 15A
Regulations
- Reg. 6(1)
- Reg. 8(1)
Parties
- Hindustan Tea & Trading Co. Ltd.
Holding
The Adjudicating Officer imposed no separate penalty on Hindustan Tea & Trading Co. Ltd. The matter was accordingly disposed of.
Full text
Page 2 of 3 SEBI Act. Consequent upon the transfer of Mr. Piyoosh Gupta, the undersigned was appointed as the Adjudicating Officer vide order dated November 19, 2007.
Page 3 of 3 6. When the adjudication proceedings were in progress against the promoter group, Ramesh Kumar Kanoi and other entities in the promoter group (excluding the Noticee) availed the ‘consent process’ in terms of SEBI circular No. EFD/CIR-1/2007 dated April 20, 2007, by paying a sum of Rs.2,00,000/- (Rupees two lakh only) towards settlement charges and Rs.25,000/- (Rupees twenty five thousand only) towards administrative expenses in the matter. Accordingly, the proceedings against these entities were disposed of by me vide consent order No. CO/CFD-DCR-1/1611/AO/VSS/74/2009 dated May 11, 2009.
SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 3. A Show Cause Notice No. EAD/EAD-5/PG/100763/2007 dated August 2, 2007 (hereinafter referred to as “SCN”) was issued to the promoter group, which included Hindustan Tea & Trading Co. Ltd. (hereinafter referred to as ‘Noticee’) under rule 4 of the Rules to show cause as to why an inquiry should not be initiated and penalty be not imposed under section 15A(b) of SEBI Act for its failure to comply with the provisions of regulations 6(1), 6(3), 8(1) and 8(2) of the SAST Regulations. The SCN was delivered to the Noticee on August 10,
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:VSS/AO-82/2009. 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.