BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA (ADJUDICATION ORDER NO: IVD-ID-4/EAD-3/AO/DRK-VB/-727/52-2015)

 
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Mumbai: Securities and Exchange Board of India has issued the following order: Page 1 of 7 BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA (ADJUDICATION ORDER NO: IVD-ID-4/EAD-3/AO/DRK-VB/-727/52-2015) _____________________________________________________________ UNDER SECTION 15-I OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5(1) OF SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES BY ADJUDICATING OFFICER) RULES,1995 In respect of Shri Mahendra P Rathod D-6,VI-2, Shahibagh Shyam Apartments, Ahmedabad, Gujarat 380004 PAN No. AIHPR1630A In the matter of SEL Manufacturing Co Ltd. _____________________________________________________________ FACTS IN BRIEF 1. Securities and Exchange Board of India ( hereinafter referred to as 'SEBI') has conducted an investigation into the alleged irregularity in the trading of the shares of SEL Manufacturing Co. Ltd. (hereinafter referred to as 'Company / SEL'). The shares are listed at the National Stock Exchange of India Limited (hereinafter referred to as 'NSE') and at BSE Ltd. (hereinafter referred to as 'BSE') and the period of investigation is from August 21, 2007 to August 27, 2007 (hereinafter referred to as the `Investigation Period / IP'). APPOINTMENT OF ADJUDICATING OFFICER 2. I was appointed as Adjudicating Officer under Section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’) read with Rule 3 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under Section 15A (a) of the SEBI Act the alleged non compliance of summonses by Shri Mahendra P Rathod (hereinafter referred to as the 'Mahendra / noticee') and the same was communicated vide proceedings Page 2 of 7 of the Whole Time Member appointing Adjudicating Officer dated 10.05.

2013. SHOW CAUSE NOTICE, REPLY AND HEARING 3. A Show Cause Notice No.EAD-3/DRK/DS/28630/2012 dated the December 20, 2012 (hereinafter referred to as 'SCN') was served on the Noticee by Registered Post Acknowledgement Due (hereinafter referred to as 'RPAD') to show cause as to why an inquiry should not be held against the Noticee and penalty be not imposed on the Noticee in respect of the violations alleged to have been committed by the Noticee under Section 15A(a) of the SEBI Act,1992. The said SCN was duly served by RPAD under Rule 4 (1) of the Adjudication Rules on the Noticee and the proof of service is on record. 4. Summonses dated 20.07.2011, 10.08.2011 and 05.09.2011 were issued / served on the Noticee under Sections 11C (3) and (5) of the SEBI Act seeking personal appearance and furnish information / documents. The following was sought from the Noticee vide the aforesaid summonses: • State your relationship with SEL Manufacturing Company Ltd. (SEL)...

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