sebi:CFD/GPIL/EAD-8/AO/KS/CO-01/2019
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Facts / Headnote
Disposed of by settlement
Provisions invoked
- s. 15A
Regulations
- Reg. 13
- Reg. 17
- Reg. 15(1)
Parties
- Shri Rajendra Kumar Agarwal
Holding
The adjudication proceedings initiated against Shri Rajendra Kumar Agarwal vide SCN dated May 31, 2017 are disposed of in terms of Regulation 15(1) of the Settlement Regulations following remittance of the Rs. 2,00,000 settlement amount.
Full text
Page 1 of 3 BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER (Application No. 3313/2017)
Page 2 of 3 Noticee being part of the promoter of the company bought 47,000 shares on May 29, 2014 which exceeded the lowest limit of 25,000 shares prescribed under Regulation 13(4A) of the PIT,1992 from last disclosure which was made on May 30, 2014 for the purchase of 25000 shares on May 28, 2014, the Noticee was required to disclose such change in shareholding to the company and to the stock exchange within two working days of such purchase. It is observed that noticee has made the relevant disclosure to the company on May 30, 2014. However, the disclosure to the stock exchange (BSE) in this regard was made only on March 19,2015 thus causing a delay of 291 days. Thus, it was alleged in the said SCN that the applicant violated the provisions of Regulation 13(4A) of PIT,1992
Page 3 of 3 6. In view of the above, in terms of Regulation 15(1) of the Settlement Regulations, this settlement order disposes of the aforesaid adjudication proceedings initiated against the applicant viz. Mr. Shri Rajendra Kumar Agarwal vide SCN dated May 31, 2017.
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Source: SecMarx — sebi:CFD/GPIL/EAD-8/AO/KS/CO-01/2019. 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.