sebi:ASK/AO/SPV/20/2015-16
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Facts / Headnote
Penalty imposed on the Noticee for violation of regulation 13(3) of PIT Regulations on December 24, 2009; allegation regarding February 24, 2010 not sustained.
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(3)
Parties
- Somerset India Fund
Holding
The Noticee violated regulation 13(3) of the PIT Regulations by failing to disclose a change in shareholding exceeding 2% on December 24, 2009, and a penalty of Rs. 5,00,000 was imposed under section 15A(b) of the SEBI Act. The allegation regarding non-disclosure on February 24, 2010 was not sustained as the Noticee's aggregate shareholding was only 2.97%, below the 5% threshold.
Full text
--------------------------------------------------------------------------------------------------------------------------------------- Adjudication Order in respect of Somerset India Fund in the matter of Austral Coke and Projects Limited.
--------------------------------------------------------------------------------------------------------------------------------------- Adjudication Order in respect of Somerset India Fund in the matter of Austral Coke and Projects Limited.
--------------------------------------------------------------------------------------------------------------------------------------- Adjudication Order in respect of Somerset India Fund in the matter of Austral Coke and Projects Limited.
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Source: SecMarx — sebi:ASK/AO/SPV/20/2015-16. 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.