sebi:BS/AO-58/2008
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of Rs. 55,00,000 imposed on the noticee for cornering retail quota shares in the IPO of Suzlon Energy Ltd.
Provisions invoked
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 199
- Reg. 200
- Reg. 3(a)
Parties
- Ms. Himani N. Patel
Holding
The noticee was held to have violated Section 12A(a) and 12A(b) of the SEBI Act and Regulations 3 and 4 of the PFUTP Regulations 2003 by cornering 10,160 shares reserved for retail investors in the IPO of Suzlon Energy Ltd. through 635 afferent accounts, acting as both a key operator and a financier. A penalty of Rs. 55,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
2 11. Nandam Exim Ltd. 12. National Thermal Power Corporation Ltd. 13. Nectar Lifesciences Ltd. 14. Patni Computer Systems Ltd. 15. Sasken Communication Technologies Ltd.
3 public issues of companies, thus leading to expansion of the securities market and its development. The relevant provision of the DIP guidelines is stated below:
4 been committed by her, relevant extracts of the report of the investigation conducted by SEBI detailing the transfer shares to her account was forwarded to her.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:BS/AO-58/2008. 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.