SEBI Imposes Penalty for not complying with summonses

In re Dwitiya Trading Limited (SEBI) The conduct of the Noticee in not paying heed to the summonses issued by SEBI and resultant non-cooperation with the process of investigation cannot be taken lightly. The SEBI Act grants powers of investigation and collection of information/documents for the purposes of investigation. For this purpose, SEBI has been empowered to issue summons to compel production of documents/ information. These powers of issuing summons have been granted to SEBI keeping in mind the statutory mandate of safeguarding the securities market and the interests of the bona fide i...