sebi:ASK/RGA/AO/176-185/2014-15
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Facts / Headnote
Penalties imposed on Noticees for failure to make disclosures under PIT Regulations, 1992 and SAST Regulations, 2011; proceedings against Noticee No. 8 abated due to death.
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(3)
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 30(3)
- Reg. 30(1)
- Reg. 30(2)
Holding
The Noticees, promoters of Safal Herbs Ltd., violated disclosure obligations under PIT Regulations, 1992 and SAST Regulations, 2011 by failing to disclose changes in shareholding and annual disclosures. Monetary penalties were imposed under section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication order in the matter of Safal Herbs Ltd. (formerly known as Parikh Herbals Ltd.) Page 2 of 27 March 31, 2015
Adjudication order in the matter of Safal Herbs Ltd. (formerly known as Parikh Herbals Ltd.) Page 3 of 27 March 31, 2015 with 13(5) of PIT Regulations, 1992 and regulations 30(2) read with 30(3) of SAST Regulations, 2011.
Adjudication order in the matter of Safal Herbs Ltd. (formerly known as Parikh Herbals Ltd.) Page 4 of 27 March 31, 2015 scheduled. Mr. Arvind R Shah and Mr. Amol Shah appeared as Authorized Representatives (AR's) on behalf of the Noticees. The Noticees reiterated the submissions made vide letter dated October 04, 2014. Also the Noticees filed additional written submissions during the course of hearing. Noticees sought time for filing additional written
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Source: SecMarx — sebi:ASK/RGA/AO/176-185/2014-15. 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.