sebi:ASK/RGA/AO/103/2014-15
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Facts / Headnote
Violation found; monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(6)
- Reg. 13(5)
Parties
- M/s Santowin Corporation Ltd.
Holding
The Noticee violated section 15A(a) of the SEBI Act, 1992 and regulation 13(6) of the PIT Regulations, 1992. A total monetary penalty of Rs. 10,00,000 was imposed - Rs. 3,00,000 under section 15A(a) and Rs. 7,00,000 for violation of regulation 13(6).
Full text
Adjudication order in the matter of M/s Santowin Corporation Ltd. Page 2 of 11 December 24, 2014 exchange, thereby violated the provisions of section 15A(a) of SEBI Act, 1992 and regulation 13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as 'PIT Regulations, 1992').
Adjudication order in the matter of M/s Santowin Corporation Ltd. Page 3 of 11 December 24, 2014 Final opportunity of hearing was granted to the Noticee on November 14, 2014 vide notice dated November 03, 2014. The Noticee vide e- mail dated October 16, 2014 requested for re-scheduling the hearing on November 13, 2014. Accordingly, the hearing was rescheduled on November 13, 2014. The Authorized Representative (AR) appeared on behalf of the Noticee and reiterated the submissions made vide letter dated June 25, 2014. The AR also requested for one week's time for filing additional evidence in support of the submissions made vide letter dated June 25, 2014. Subsequently, time till November 20, 2014 was granted to the Noticee as a final opportunity. Accordingly, Noticee vide letter dated November 20, 2014 filed its further submissions.
Adjudication order in the matter of M/s Santowin Corporation Ltd. Page 4 of 11 December 24, 2014 failure continues or one crore rupees, whichever is less;
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Source: SecMarx — sebi:ASK/RGA/AO/103/2014-15. 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.