Markets regulator Sebi today said its special court has sentenced imprisonment to an individual for non-payment of penalties.
The regulator filed three separate prosecution complaints against Sachin Patil (the accused) under Sebi Act for non payment of penalties imposed by the Adjudication officers of Sebi in the matters of Robinson Worldwide Trade, Genus Commu Trade and Vijay Textiles, the markets watchdog said in a statement.
These cases were tried by the Sebi Special Court, City Civil and Sessions Court, Kalaghoda, Mumbai wherein the offence of non-payment of penalty was proved against the accused.
Accordingly, Sebi Special Court convicted the accused in all three cases vide three separate judgments dated December 26, 2016.
"In each case, the accused was sentenced to undergo simple imprisonment of one month and the imprisonment in all three cases will run consecutively," the statement noted.
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