Adjudication Order in respect of Manju Agarwal in the matter of PMC Fincorp Limited

This adjudication order concerns Manju Agarwal and alleged violations of SEBI (Prevention of Insider Trading) Regulations, 1992, specifically Regulation 13(4A), in relation to PMC Fincorp Limited. SEBI initiated proceedings after an investigation into the company's scrip between March 29, 2012, and March 31, 2015. Manju Agarwal was served a show cause notice detailing the allegations and was given an opportunity to respond.

BEFORE THE ADJUDICATING OFFICER
SECURITIES AND EXCHANGE BOARD OF INDIA
[ADJUDICATION ORDER NO. Order/MC/DS/2020-2021/ 9096 ]

UNDER SECTION 15-I OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995.

In respect of –

1. Manju Agarwal (PAN:ADAPA6561H) having address at - C/o Rama Kant Modi, 34 Tarak Sidhanta Lane, Ground Floor, Howrah – 711201

In the matter of PMC Fincorp Limited.

BACKGROUND

1. Securities and Exchange Board of India (hereinafter be referred to as, “SEBI”) initiated adjudication proceedings under Section 15A(b) of SEBI Act, 1992 (hereinafter be referred to as, the “SEBI Act”) against Manju Agarwal (hereinafter be referred to as, “the Noticee/ Manju / You”) for the alleged violations of Regulation 13(4A) of the SEBI (Prevention of Insider Trading) Regulations, 1992 (hereinafter referred to as "PIT Regulations").

APPOINTMENT OF ADJUDICATING OFFICER

2. SEBI appointed the undersigned as Adjudicating Officer (hereinafter referred to as “AO”) vide order dated June 26, 2020 to inquire into and adjudge under section 15A(b) of the SEBI Act, the aforesaid alleged violations against the Noticee. The appointment of the AO was communicated vide order dated June 30, 2020.

SHOW CAUSE NOTICE, REPLY AND HEARING

3. Show Cause Notice No. EAD5/MC/DPS/11529/2020 dated July 9, 2020 (hereinafter be referred to as, the “SCN”) was served upon the Noticee under Rule 4(1) of the Adjudication Rules to show cause as to why an inquiry should not be held and penalty be not imposed against her under Section 15A(b) of SEBI Act, 1992, for the alleged violations of Regulations 13(4A) of PIT Regulations.

4. The allegations levelled against the Noticee in the SCN are summarized as below:

5. An investigation was carried out by SEBI in the scrip of PMC Fincorp Limited (hereinafter referred to as 'PMC / Scrip / Company') for the period March 29, 2012 to March 31, 2015 (investigation period).

6. PMC Fincorp Limited is registered as a Public Limited Company in the State of Uttar Pradesh, Kanpur. The company was incorporated on February 4, 1985, to undertake business of Financial Services. The company is registered with Reserve Bank of India as a Non-Banking Financial Company (NBFC) and offered its shares to the public through an IPO in the year 1988. The shares of company were listed on UP Stock Exchange Ltd (UPSE) and subsequently got listed on Bombay Stock Exchange Ltd (BSE) on March 12, 2012. As per the MCA website, Company’s registered office is at B-10, VIP Colony, Civil Lines, Rampur, UP - 244901 IN.

To read / download the full judgment, find the enclosed file