sebi:ASK/RGA/AO/58-61/2014
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Facts / Headnote
Penalty imposed on Noticees for violation of regulation 7(1) read with 7(2) of SAST Regulations, 1997
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 7(2)
Parties
- Ramesh V Shah
- Jimit R Shah
- Pushpa R Shah
- Yesha R Shah
Holding
The Noticees violated regulation 7(1) read with 7(2) of SAST Regulations, 1997 by failing to make disclosures within two days of acquisition of 1,04,000 shares on March 26, 2010, and a monetary penalty of Rs. 2,00,000 was imposed jointly and severally on them under section 15A(b) of the SEBI Act.
Full text
Adjudication order in the matter of Zodiac Ventures Ltd. Page 2 of 9 March 28 , 2014 shareholders of Zodiac Ventures Limited (hereinafter referred to as "ZVL"), Target Company, listed at Bombay Stock Exchange (BSE) through a public announcement dated February 22, 2013 for acquisition of 6,32,500 equity shares of the face value of ` 10 each at an Offer price of ` 30 per fully paid up equity share of `10 each payable in cash representing 16.96% of the emerging voting share of the Target Company.
Adjudication order in the matter of Zodiac Ventures Ltd. Page 3 of 9 March 28 , 2014 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication order in the matter of Zodiac Ventures Ltd. Page 4 of 9 March 28 , 2014 made vide letter dated March 03, 2014 and also requested to take a lenient view.
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Source: SecMarx — sebi:ASK/RGA/AO/58-61/2014. 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.