sebi:BM/AO-67/2011
Facts / Headnote
Penalty imposed on Noticee for violations of Takeover Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
Regulations relied on
- SEBI (SAST) Regulations, 1997 — 6(2)
Parties
- Neelkanth Technologies Ltd. (Formerly known as Shri Lakhavi Infotech Limited)
Holding
The Noticee violated Regulations 6(2), 6(4), 7(3) and 8(3) of the Takeover Regulations by failing to make required disclosures within stipulated time, and a penalty of Rs. 2,00,000 was imposed under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 13 2. Neelkanth Technologies Ltd. (Formerly known as Shri Lakhavi Infotech Limited) (hereinafter referred to as “Noticee/The Company”) is a company incorporated and registered under the Companies Act, 1956 having its registered office at Devchand Bldg., 1st Floor, Plot- 18, Road No.3, Daulat Nagar, Borivali (East), Mumbai-400066. The authorized share capital of The Company as on the date of Public announcement was Rs 4,00,00,000 comprising of 40,00,000 shares of Rs.10/- each. The issued, subscribed and paid-up share capital of the company was Rs 3,61,75,000/- comprising of 36,17,500 equity shares of Rs.10/- each fully paid-up. The company was listed on Bombay Stock Exchange (hereinafter referred to as ASE), Ahmedabad Stock Exchange (hereinafter referred to as ASE), Calcutta Stock Exchange (hereinafter referred to as CSE) and Jaipur Stock Exchange (hereinafter referred to as JSE) at the relevant time.
Page 3 of 13 Noticee under Sec15A (b) of SEBI Act, 1992 to inquire into and adjudicate the alleged violations of the provisions of 6(2), 6(4), 8(3) and 7 (3) of the Takeover Regulations.
Page 4 of 13 13. 7(3) 25.09.2003 17.08.2004 14. 7(3) 17.01.2004 17.08.2004 15. 7(3) 28.02.2004 17.08.2004 16. 7(3) 25.06.2004 12.04.2005 17. 7(3) 26.06.2004 12.04.2005
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Source: SecMarx — sebi:BM/AO-67/2011. 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.