sebi:WTM/PS/74/IVD/ID-05/JAN/11
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Facts / Headnote
Show cause notices dated July 31, 2009 disposed without imposing any penalty or direction; proceedings against Shri P. L. Choudhury dropped following his death
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
Regulations
- Reg. 4(b)
- Reg. 13(2)
Parties
- P. L. Choudhury & Co.
- Sabitridebi Choudhury
- Pawankumar Choudhury HUF
Holding
The show cause notices against P. L. Choudhury & Co., Sabitridebi Choudhury and Pawankumar Choudhury HUF were disposed without penalty or direction, with proceedings against Shri P. L. Choudhury dropped after his death on May 15, 2009. The remaining noticees were given the benefit of doubt on alleged violation of Regulations 4(b), 4(c), 4(d) and 6(d) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 1995.
Full text
2 period March 5, 2001 - July 6, 2001 (hereinafter referred to as the “investigation period”). The scrip was listed at the Bombay Stock Exchange, the Hyderabad Stock Exchange, the Calcutta Stock Exchange and the Ahmedabad Stock Exchange (hereinafter referred to as “BSE”, “HSE”, “CSE” and “ASE” respectively).
3 Regulations 4(b), 4(c), 4(d) and 6(d) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 1995 read with Regulation 13(2) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 2003.
4 6. The noticees also placed emphasis on the order of the Hon’ble SAT dated August 14, 2007 in Appeal no 54 of 2007. However, I note that the Hon’ble SAT had passed the orders in separate proceedings, although relating to the same scrip, having separate set of facts, pertaining to a different time period and as such not at all similar to this case before me.
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Source: SecMarx — sebi:WTM/PS/74/IVD/ID-05/JAN/11. 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.