sebi:WTM/KV/MRD/MRD-PoD-3/30752/2024-25
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Facts / Headnote
Show Cause Notice dated 17.05.2023 held to be without jurisdiction qua the Noticee; proceedings dropped
Provisions invoked
- s. 11(1)
- s. 11B
- s. 11
- s. 12
- s. 11A
- s. 15
- s. 28A
- s. 26A
Regulations
- Reg. 9
- Reg. 4(1)
- Reg. 200
Parties
- Aman Kokrady
Holding
The Adjudicating Officer held that the authority does not have jurisdiction to proceed against the Noticee (Aman Kokrady) on account of directions given by SAT in the 2023 SAT Order, as the remand did not cover the Noticee.
Full text
Order in the matter of Aman Kokrady Page 2 of 24 “i. Pass a writ, order or direction setting aside and quashing Show Cause Notice dated 17.05.2023 under the provisions of Sections 11(1), 11(2)(b), 11(4) and 11(B) of the Securities Exchange Board of India Act, 1992 bearing SEBI/MRD/19860/2023 issued by the Deputy General Manager, Securities and Exchange Board of India [“SEBI”] against the Petitioner; and ii. Pass an order staying the proceedings emanating out of Show Cause Notice dated 17.05.2023 under the provisions of Sections 11(1), 11(2)(b), 11(4) and 11(B) of the Securities and Exchange Board of India Act, 1992 bearing SEBI/MRB/19860/6/2023 issued by the General Manager, Securities and Exchange Board of India [“SEBI”] against the Petitioner till the disposal of the present writ; iii. Ad-interim relief in terms of prayer clause(ii);”
Order in the matter of Aman Kokrady Page 3 of 24 the Petitioner is that the impugned show-cause notice is identical to what was issued to the Petitioner on the earlier occasion which came to be adjudicated and on which Petitioner was discharged and exonerated. …
Order in the matter of Aman Kokrady Page 4 of 24 concerned Officer of the Respondent to decide the issue of jurisdiction being raised by the Petitioner as a preliminary issue and only after such issue is decided, take an appropriate call on the adjudication of the show-cause notice. All contentions of the parties in that regard are expressly kept open.
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Source: SecMarx — sebi:WTM/KV/MRD/MRD-PoD-3/30752/2024-25. 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.