sebi:CFD/GTFCL/AO/DRK-AKS/EAD-3/348/14-13
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Facts / Headnote
Penalty of Rs. 2,50,000 imposed on the noticee under Section 15A(b) of the SEBI Act, 1992
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 8
Parties
- Ganon Trading and Finance Company Ltd.
Holding
The noticee failed to make disclosures within the timeline under Regulation 8(3) of the Takeover Regulations for 2001-2005 and with delay for 2006-2009, and a penalty of Rs. 2,50,000 under Section 15A(b) of the SEBI Act was imposed on Ganon Trading and Finance Company Ltd.
Full text
Page 2 of 8 Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) and the same was communicated vide proceedings of the Whole Time Member Appointing Adjudicating Officer dated 30.11.2012 to inquire into and adjudge under Section 15A (b) of the SEBI Act the violation of Regulation 8 (3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as ‘Takeover Regulations’) alleged to have been committed by the noticee.
Page 3 of 8 Regulation (1) Due Date for Compliance as mentioned in the Regulation (2) Actual Date of Compliance (3) Delay (in no. of days)
Page 4 of 8 07.02.2013. The ARs submitted that the noticee does not have any acknowledged documents filed with BSE for the years 2001-2005. CONSIDERATION OF EVIDENCE AND FINDINGS
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Source: SecMarx — sebi:CFD/GTFCL/AO/DRK-AKS/EAD-3/348/14-13. 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.