SEBI slaps final hearing notices to 9 'missing' entities, including 6 from Delhi
IANS 20 January 2023
The markets regulator Securities & Exchange Board of India (SEBI) has served final notices to nine 'missing' entities pertaining to various proceedings the watchdog is conducting against them.
The SEBI has proceeded against these entities -- all are based in north India -- under various provisions of the SEBI Act, 1992, and has given them a 'final opportunity of personal hearing' this day (January 20) in the interest of natural justice.
However, the regulator said that the notices for the online hearing -- in the matter of Fairwealth Securities Ltd. and Fairwealth Commodity Broking Pvt. Ltd -- could not be delivered at the known addresses of the concerned entities via SPAD, hand delivery and affixture.
Three of the noticees are: Fairwealth Securities Ltd. and Katashraj Securities Pvt. Ltd. (both Gurrgram) and Sandeep Jindal of Gurugram.
The other six are from different areas of Delhi: Naveen Gaba of Mayur Vihar; Aagas Software Solutions Pvt. Ltd., Reets Plastics Pvt. Ltd., Chahek Housing Pvt. Ltd., Fairwealth Financial Services Ltd. and Fairwealth Commodity Broking Pvt. Ltd. (all at Bhikaji Cama Place).
The notices were issued to all of them on December 21, 2022, for the hearing scheduled a month later, that is this day, according to the SEBI General Manager Narendra Rawat.
The SEBI has also warned that if they fail to appear for the hearing, "it shall be presumed that they have nothing further to state in the matter, and the matter shall be proceeded with on the basis of material available on record."
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
NCLAT Order: Exposes Dubious Collusion To Hijack Hirakud Industrial Works and Defraud Workers
Sucheta Dalal, 20 January 2023
The shameful collusion between creditors and resolution professionals (RPs) to legally hijack valuable corporate assets via the bankruptcy law reaches new lows every day. The most recent case pertains to Hirakud Industrial Works Ltd...
DGCA imposes Rs30 lakh fine on Air India, suspends pilot-in-command for 3 months
IANS 20 January 2023
Aviation regulator DGCA has imposed a fine of Rs 30 lakh on Air India and suspended the License of pilot-in-command for three months in connection with the Air India urination case.
Moreover, the regulator has also imposed...
Front Running: TV channels market experts, cronies raided by SEBI
IANS 20 January 2023
The markets regulator Securities & Exchange Board of India (SEBI) has carried out nationwide raids targeting front-running carried out by market experts appearing on a business news television channel.
The raids comprising...
SEBI Probing Nippon Mutual Fund investments in Yes Bank on Suspicion of Misuse of Investor Money: Report
Moneylife Digital Team 20 January 2023
Market regulator Securities and Exchange Board of India (SEBI) is reportedly probing investments between Nippon India Mutual Fund and Yes Bank between 2016 and 2019 for suspected misuse of investors' money. 
Free Helpline
Legal Credit