sebi:AK/AO-33/2014
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceeding dropped as infructuous due to death of the Noticee
Provisions invoked
- s. 15
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 10
- Reg. 12
- Reg. 14
Parties
- Late Mr. Rasiklal Shah
Holding
The adjudication proceeding against the deceased Noticee, Late Mr. Rasiklal Shah, was dropped as the matter became infructuous following his death on May 12, 2012. No penalty was imposed.
Full text
__________________________________________________________________________________ Adjudication order in the matter of M/s Pankaj Piyush Trade and Investment Limited. Page 2 of 3
__________________________________________________________________________________ Adjudication order in the matter of M/s Pankaj Piyush Trade and Investment Limited. Page 3 of 3
that the Noticee was also required to make necessary disclosures as prescribed under Regulation 7(1) of the Takeover Regulations, 1997 as he had acquired 60,000 shares entitling him to more than 15% shares in the company pursuant to the aforesaid acquisition. It was alleged that the Noticee did not make any disclosure in this regard, hence violating regulation 7(1) read with Regulation 7 (2) of Takeover Regulations, 1997.
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Source: SecMarx — sebi:AK/AO-33/2014. 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.