sebi:AK/AO-24-33/2015
Facts / Headnote
Penalty of Rs. 8,00,000 jointly and severally imposed on 9 promoter Noticees for violation of Regulation 11(2) read with Regulation 14(1); adjudication proceedings against Mr. Vasu Aggarwal held infructuous and disposed of.
Provisions invoked
- s. 24
- s. 15
- s. 11
- s. 15H
Regulations relied on
- SEBI (SAST) Regulations, 1997 — 11(2)
- SEBI (SAST) Regulations, 1997 — 14(1)
Parties
- Mr. Jagat Mohan Aggarwal
- Mr. Bharat Bhushan Agarwal
- Mr. Pradeep Aggarwal
- Mr. Ram Piari
- Mr. Ajay Kumar Goel
- Mr. Kiran Goel
- Ms. Saru Aggarwal
- Ms. Suchita Aggarwal
- Mr. Bharat Bhushan Aggarwal- HUF
- Mr. Vasu Aggarwal
Holding
Nine promoter Noticees violated Regulation 11(2) read with Regulation 14(1) by acquiring 1,000 shares on April 30, 2010 increasing promoter holding from 54.99% to 55.01% without public announcement, and are jointly and severally liable to Rs. 8,00,000 penalty under Section 15H(ii); proceedings against minor Mr. Vasu Aggarwal cannot proceed and are disposed of.
Full text
______________________________________________________________________________________ Adjudication Order in the matter of M/s. Pioneer Agro Extracts Limited Page 2 of 16
______________________________________________________________________________________ Adjudication Order in the matter of M/s. Pioneer Agro Extracts Limited Page 3 of 16
______________________________________________________________________________________ Adjudication Order in the matter of M/s. Pioneer Agro Extracts Limited Page 4 of 16
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Source: SecMarx — sebi:AK/AO-24-33/2015. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.