sebi:ASK/AO/17/2014
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of Rs. 5,00,000 imposed under Section 15A(b) for violation of regulation 8(3)
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
- s. 15
Regulations
- Reg. 6
- Reg. 7
- Reg. 199
- Reg. 8(3)
- Reg. 201
- Reg. 8(1)
- Reg. 35
Parties
- Champion Finsec Limited
Holding
The Noticee violated regulation 8(3) of SAST Regulations, 1997 for the years 2003 to 2006 by making delayed disclosures and is liable for monetary penalty under section 15A(b) of the SEBI Act, and a penalty of Rs. 5,00,000 was imposed.
Full text
Adjudication Order in the matter of Champion Finsec Limited Page 2 of 10 provisions of regulation 8(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as “SAST Regulations, 1997”) for the years 2003 to 2006.
Adjudication Order in the matter of Champion Finsec Limited Page 3 of 10 SAST Regulations, 1997 read with regulation 35 of SAST Regulations,
Adjudication Order in the matter of Champion Finsec Limited Page 4 of 10 c. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of SEBI Act?
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:ASK/AO/17/2014. 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.