sebi:CFD/EAD-6/AO/AK/82/2015
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Facts / Headnote
Settlement of adjudication proceedings through consent order; adjudication proceedings disposed of on payment of Rs. 2,00,000 towards settlement charges.
Regulations
- Reg. 7
- Reg. 17
- Reg. 13(1)
- Reg. 15
- Reg. 7(2)
- Reg. 15(2)
Parties
- M/s. Welspun Fintrade Pvt. Ltd.
Holding
The adjudication proceedings against M/s. Welspun Fintrade Pvt. Ltd. for delayed compliance of Regulation 7(1A) read with Regulation 7(2) of the Takeover Regulations, 1997 are disposed of through this consent order upon payment of Rs. 2,00,000 towards settlement charges.
Full text
Page 2 of 3 Regulation Transaction Date No. of Shares Acquired Change in % Shareholding Due Date of compliance Date of compliance Delay ‐ in no. of days 7(1A) 31.07.2006 1632330 2.23% 02.08.2006 03.08.2006 1 7(1A) 05.03.2010 1615561 2.21% 07.03.2010 08.03.2010 1 7(1A) 07.04.2010 1654317 2.26% 09.04.2010 15.04.2010 6
Page 3 of 3 August 14, 2015 drawn on State Bank of Bikaner and Jaipur and payable at Mumbai, for a sum of Rs. 2,00,000/‐ (Rupees Two Lakhs only) towards the settlement charges.
4. While the adjudication proceedings pursuant to the said SCN were in progress, the applicant vide its application dated September 16, 2013 and applications for amendment dated April 02, 2014, May 28, 2014 and December 24, 2014 in terms of the SEBI circular no. EFD/ED/Cir‐1/2007 dated April 20, 2007 read with circular dated May 25, 2012 and subsequently replaced with the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 proposed to settle, through a consent order, the aforementioned adjudication proceedings for the delayed compliance of the provisions of Regulation 7(1A) read with regulation 7(2) of the Takeover Regulations, 1997.
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Source: SecMarx — sebi:CFD/EAD-6/AO/AK/82/2015. 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.