sebi:CFD/EIL/AO/DRK/AKS/EAD-3/293/59-11
Facts / Headnote
Violation found; penalty of Rs. 1,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations relied on
- SEBI (SAST) Regulations, 1997 — 8(3)
Parties
- Eduexel Infotainmemt Ltd.
Holding
The noticee failed to comply with Regulation 8(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 during 2003-2009. A penalty of Rs. 1,00,000 was imposed on Eduexel Infotainmemt Ltd. under Section 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 8 APPOINTMENT OF ADJUDICATING OFFICER 3. I was appointed as the Adjudicating Officer and the same was communicated vide proceedings of the Whole Time Member appointing Adjudicating Officer dated 21.06.2011 under Section 15 I of the SEBI Act, 1992 read with Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under Section 15A (b) of the SEBI Act, the violation of Regulation 8 (3) of the Takeover Regulations alleged to have been committed by the noticee.
Page 3 of 8 6. In response to the said hearing notice, the noticee vide its letter dated 16.09.2011 expressed its surprise that the SCN was returned undelivered and requested for a copy of the SCN. The noticee also informed that it has changed its registered office. Further, the noticee confirmed that it will be present at the scheduled hearing. As requested by the noticee, the noticee was provided with a soft copy of the SCN via email dated 19.09.2011.
Page 4 of 8 • Noticee submitted that there is no violation in submitting the copies of reports of Regulation 8 (3) of Takeover Regulations to the stock exchanges. The stock exchanges have admitted its application for revocation and have granted the approval. The noticee has submitted the copies of reports of Regulation 8 (3) of Takeover Regulations as submitted to the stock exchanges with its reply.
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:CFD/EIL/AO/DRK/AKS/EAD-3/293/59-11. 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.