sebi:AK/AO-90-99/2015
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation of Regulations 7(3) and 8(3) of Takeover Regulations, 1997 established against the Company; charge under Regulation 7(1) read with 7(2) against Milton Securities dropped; penalties imposed under Sections 15A(a) and 15A(b) of SEBI Act (e.g., Rs. 8,00,000 jointly and severally, Rs. 2,00,000 and Rs. 5,00,000 on Subhkam Securities for Reg 3(3) and 3(4) respectively)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 6
- Reg. 11
- Reg. 3
- Reg. 10
- Reg. 12
- Reg. 8
- Reg. 13(3)
- Reg. 11(1)
- Reg. 3(3)
- Reg. 8(3)
- Reg. 7o
- Reg. 7(3)
- Reg. 7(2)
- Reg. 3(1)
- Reg. 11(2)
- Reg. 3(4)
- Reg. 24(7)
- Reg. 18
Parties
- M/s. Subhkam Capital Limited
- Mr. Rakesh S Kathotia
- Ms. Arti Kathotia
- Ms. Kamladevi Kathotia
- Rakesh S. Kathotia - HUF
- M/s. Subhkam Monetary Services Pvt. Ltd.
- M/s. Subhkam Properties Pvt. Ltd.
- M/s. Milton Securities Ltd.
- M/s. Subhkam Ventures (I) Pvt. Ltd.
- M/s. Subhkam Securities Pvt. Ltd.
Holding
The Company violated Regulations 7(3) and 8(3) of the Takeover Regulations, 1997 for delayed disclosures in 2006 and 2011; Regulation 7(1A) applies to promoter Noticees only where their holding falls within the scope of Regulation 11(1), and the charge against Milton Securities under Regulation 7(1) read with 7(2) was dropped.
Full text
____________________________________________________________________________________ Adjudication order in the matter of M/s. Subhkam Capital Limited Page 2 of 54
____________________________________________________________________________________ Adjudication order in the matter of M/s. Subhkam Capital Limited Page 3 of 54
____________________________________________________________________________________ Adjudication order in the matter of M/s. Subhkam Capital Limited Page 4 of 54
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:AK/AO-90-99/2015. 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.