sebi:BS/AO/47-51/2017-18
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Facts / Headnote
Disposed of without any penalty
Provisions invoked
- s. 21
- s. 23I
Regulations
- Reg. 38
Parties
- Mr. F A A Jasdanwalla
- Mr. D P Mehta
- Mr. D O Hughes
- Mr. D G Hussey
- Mr. R A Savoor
Holding
The adjudication proceedings against the Noticees (individual directors of FIL) are disposed of without any penalty, in view of the settlement of the underlying MPS violation by FIL and related entities.
Full text
Page 2 of 4 the equity share capital of FIL, held by Cookson was gifted to Karibu. The said gift was supposedly undertaken to comply with the requirement of minimum public shareholding (MPS) as prescribed under the then prevailing Clause 40A of the equity listing agreement.
Page 3 of 4 And Imposing Penalties By Adjudicating Officer) Rules, 2005 (hereinafter referred to as “Rules”) for the violations as specified in the SCN.
Page 4 of 4 F A A Jasdanwalla, Mr. D P Mehta, Mr. D O Hughes, Mr. D G Hussey, and Mr. R A Savoor is disposed of without any penalty.
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Source: SecMarx — sebi:BS/AO/47-51/2017-18. 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.