sebi:BS/AO-/64/2008
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Facts / Headnote
Adjudication proceedings against the noticee disposed of, no penalty imposed
Regulations
- Reg. 8
- Reg. 8(3)
- Reg. 8(2)
Holding
The adjudication proceedings against the noticee were disposed of as no delay was found in complying with Regulation 8(2) of the Takeover Regulations, since necessary disclosures had been made under Regulation 8 and acknowledged by the Stock Exchange.
Full text
2 4. Subsequently, a copy of SCN was accepted by the representative (Shri Pawan Aggarwal, Manager) of the noticee during the course of the hearing of a related entity in the same matter. Considering the facts and circumstances of the case, it was decided to conduct an inquiry in the matter and the noticee was granted an opportunity of hearing on October 29, 2008. The noticee failed to attend the hearing on October 29, 2008.
3 8. It is noted from the details provided in the draft letter of offer that there was delay in complying with the said regulations as stated below.
4 dates is also stated to be available on the website of the stock exchange. As it is seen that necessary disclosures have been made in terms of the provisions of Regulation 8, the adjudication proceedings against the noticee is disposed of.
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Source: SecMarx — sebi:BS/AO-/64/2008. 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.