sebi:AK/AO-7-11/2017
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 Noticees for violation of Regulation 12(1) of SEBI (Prohibition of Insider Trading) Regulations, 1992
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15J
- s. 12
- s. 383A
- s. 4A
- s. 27(1)
Regulations
- Reg. 12(1)
- Reg. 199
- Reg. 3
- Reg. 12
Parties
- Falcon Tyres Ltd.
- Mr. Pawan Kumar Ruia
- Mr. Sunil Bhansali
- Mr. S. Ravi
- Mr. M.C. Bhansali
Holding
The Noticees, including Falcon Tyres Ltd. and its directors/officers, violated Regulation 12(1) read with Clause 1.2 under Part A of Schedule I of the SEBI (Prohibition of Insider Trading) Regulations, 1992 by failing to frame and maintain a proper Code of Internal Procedures and Conduct as near to the Model Code without diluting it, and a penalty of Rs. 1,00,00,000 was imposed jointly and severally under Section 15HB of the SEBI Act, 1992.
Full text
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Source: SecMarx — sebi:AK/AO-7-11/2017. 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.