sebi:AO/SBM/EAD-3/135/2018
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Facts / Headnote
Penalty of Rs 1,00,000 imposed on the Noticee under Section 15A(b) of the SEBI Act for violation of Regulation 29(1) of SAST Regulations and Regulation 13(1) of PIT Regulations treated as single violation
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(1)
- Reg. 7(1)
- Reg. 29(2)
- Reg. 12
- Reg. 29(1)
Parties
- Ms. Bhavini Vijaykumar Shah
Holding
The Noticee violated Regulation 29(1) of the SAST Regulations, 2011 and Regulation 13(1) of the PIT Regulations, 1992 by failing to disclose her acquisition of 1,18,721 shares of P.M. Telelinnks Ltd. on November 19, 2011 which took her holding from 3.30% to 5.11%. A consolidated monetary penalty of Rs 1,00,000 under Section 15A(b) of the SEBI Act was imposed treating the two violations as a single violation.
Full text
Page 2 of 10 referred to as 'PIT Regulations'). In view of the above, adjudication proceedings were initiated against the Noticee under the provisions of section 15 A (b) of the SEBI Act, 1992 ( hereinafter referred to as ‘SEBI Act’).
Page 3 of 10 December 31, 2011, which was subsequently reduced to 3.82% during the quarter ending March 31, 2012. However, no disclosures were made by the Noticee under the SAST and PIT regulations. b) It is alleged that the Noticee acquired 1,18,721 shares of PMTL on November 19,
Page 4 of 10 holding more than 5% shares within two working days of such acquisition of shares. However, Noticee has not complied with the abovementioned regulations. d) From the foregoing, it is alleged that Noticee has violated the provisions of regulation 29(1) of SAST Regulations and regulation 13(1) of PIT Regulations.
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Source: SecMarx — sebi:AO/SBM/EAD-3/135/2018. 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.