sebi:AK/AO-3-13/2015
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed for violation of Regulation 11(2) read with Regulation 14(1) of the Takeover Regulations
Provisions invoked
- s. 11
- s. 24
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 6
- Reg. 11
- Reg. 10
- Reg. 5
- Reg. 14(1)
- Reg. 44
- Reg. 11(2)
- Reg. 44(g)
Holding
The Noticees violated Regulation 11(2) read with Regulation 14(1) of the Takeover Regulations by acquiring 49,000 shares (1.50%) through off-market mode on December 1, 2009 without making a public announcement. A penalty of Rs. 8,00,000/- was imposed under Section 15H(ii) of the SEBI Act, with the promoter Noticees jointly and severally liable.
Full text
______________________________________________________________________________________ Adjudication Order in the matter of M/s. Dhruva Capital Services Limited Page 2 of 16
______________________________________________________________________________________ Adjudication Order in the matter of M/s. Dhruva Capital Services Limited Page 3 of 16
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Source: SecMarx — sebi:AK/AO-3-13/2015. 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.