sebi:AO/SG-DP/EAD/63-64/2017
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 6
- Reg. 11
- Reg. 199
- Reg. 14
- Reg. 14(1)
- Reg. 10
- Reg. 11(1)
- Reg. 7(2)
- Reg. 35
- Reg. 4(7)
Parties
- V A Norhi
- B Y Somayajulu
Holding
The Noticees did not violate Regulation 11(1) read with Regulation 14(1) and Regulation 7(1A) read with Regulation 7(2) of SAST Regulations, 1997, and the adjudication proceedings were disposed of with no monetary penalty.
Full text
Adjudication Order in respect of V A Norhi and B Y Somayajulu in the matter of M/s Vybra Automet Limited Page 2 of 17 ‘Noticees’) with respect to provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as ‘SAST Regulations, 1997’) were observed.
Adjudication Order in respect of V A Norhi and B Y Somayajulu in the matter of M/s Vybra Automet Limited Page 3 of 17 PREVIOUS ADJUDICATION ORDER, ORDERS BY HON’BLE SECURITIES APPLLATE TRIBUNAL AND APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of V A Norhi and B Y Somayajulu in the matter of M/s Vybra Automet Limited Page 4 of 17 (a) SEBI shall issue show cause notices to the Appellants within two weeks from today. Reply, if any, be filed by the Orig. Appellant in the respective appeals, within 4 weeks from receiving the show cause notice. (b) SEBI shall complete the adjudication proceedings in accordance with law and pass appropriate order within a period of 4 weeks from receiving the reply from the Appellants. If reply is not received within the stipulated time, SEBI is at liberty to pass ex-parte order. …….”
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Source: SecMarx — sebi:AO/SG-DP/EAD/63-64/2017. 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.