sebi:AK/AO-64/2017
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 on the Noticee for violation of Regulation 12 read with Regulation 14 of the Takeover Regulations, 1997
Provisions invoked
- s. 15
- s. 15H
- s. 3(1)
- s. 15J
- s. 15F
- s. 15I(2)
- s. 257
Regulations
- Reg. 2(1)(c)
- Reg. 12
- Reg. 14
- Reg. 14(3)
- Reg. 2(1)(h)
Parties
- Capetown Trading Company Private Limited
Holding
The Noticee, Capetown Trading Company Private Limited, was held to have acquired control of the Company upon acquiring 30,000 shares (4.08%) on March 31, 2006, thereby violating Regulation 12 read with Regulation 14 of the Takeover Regulations, 1997 by failing to make an open offer, and a penalty of Rs. 50,00,000 was imposed under Section 15H(ii) of the SEBI Act.
Full text
_____________________________________________________________________________________________ Adjudication Order in the matter of M/s. Innoventive Venture Limited Page 2 of 36
_____________________________________________________________________________________________ Adjudication Order in the matter of M/s. Innoventive Venture Limited Page 3 of 36
_____________________________________________________________________________________________ Adjudication Order in the matter of M/s. Innoventive Venture Limited Page 4 of 36
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Source: SecMarx — sebi:AK/AO-64/2017. 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.