sebi:CFD/AHRL/AO/DRK/ASG/EAD3-69/2009
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Facts / Headnote
Penalty of Rs. 15,000 imposed on the noticee for delay in compliance with Regulation 8(3)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 8
- Reg. 8(3)
Parties
- Advani Hotels and Resorts (India) Ltd.
Holding
The noticee delayed by four months in making yearly disclosure under Regulation 8(3) for FY 2004-2005 and is liable under Section 15A(b) of the SEBI Act; a penalty of Rs. 15,000 is imposed.
Full text
Page 2 of 7 APPOINTMENT OF ADJUDICATING OFFICER 3. I was appointed as the Adjudicating Officer (subsequent to the transfer of Shri Biju S.) vide order dated December 10, 2008, under section 15 I of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the ‘SEBI Act’), read with Rule 3 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under Section 15A (b) of the SEBI Act the violation of Regulation 8(3) of Takeover Regulations alleged to have been committed by the noticee.
Page 3 of 7 Exchange Ltd. (hereinafter referred to as ‘BSE’) on August 31, 2005. The noticee enclosed a copy of the form which had been filed with the BSE with proof of acknowledgment from BSE with its reply. This delay was due to the sudden resignation of the concerned officer who used to handle the compliances. As soon as the delay was discovered the noticee had filed the required disclosure.
Page 4 of 7 CONSIDERATION OF EVIDENCE AND FINDINGS 8. I have taken into consideration the facts and circumstances of the case, the submissions made by the noticee and the material made available on record.
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Source: SecMarx — sebi:CFD/AHRL/AO/DRK/ASG/EAD3-69/2009. 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.