sebi:WTM/ASB/IVD/ID2/19296/2022-23
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty enhanced from Rs. 4,00,000 to Rs. 5,00,000 under section 15HA of the SEBI Act on the Noticees vide the AO Order dated November 24, 2021; the enhanced amount of Rs. 1,00,000 to be paid within 45 days.
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15T
- s. 11C
- s. 23H
- s. 13
- s. 18
- s. 16
Regulations
- Reg. 3
Parties
- Nikhlesh Kumar
- Nikita Forex Private Limited
- Kunal Yadav
- Nature Infosoft Private Limited
- Saurabh Gupta
- Topline Fabrics Private Limited (now known as M.A. Market Services Private Limited)
- Tushar Commodities Private Limited
Holding
The penalty imposed by the Adjudicating Officer under section 15HA of the SEBI Act, being lower than the mandatory minimum prescribed under the section, is erroneous and not in the interest of the securities market, and is therefore amenable to enhancement under section 15-I(3) of the SEBI Act.
Full text
__________________________________________________________________________________________ Order under Section 15-I(3) in the matter of Kalpa Commercial Limited
__________________________________________________________________________________________ Order under Section 15-I(3) in the matter of Kalpa Commercial Limited
__________________________________________________________________________________________ Order under Section 15-I(3) in the matter of Kalpa Commercial Limited
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:WTM/ASB/IVD/ID2/19296/2022-23. 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.