sebi:CFD/PVPL/AO/DRK-CS/EAD-3/369/35-13
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Facts / Headnote
Penalty imposed on the Noticee for delayed disclosure under SAST Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 29(1)
- Reg. 29
- Reg. 29(2)
- Reg. 29(3)
- Reg. 2(3)
Parties
- Pavaki Vanijya Pvt. Ltd.
Holding
The Noticee, Pavaki Vanijya Pvt. Ltd., was found to have violated regulations 29(1) and 29(2) read with regulation 29(3) of the SEBI (SAST) Regulations, 2011 by failing to make timely disclosures of share acquisitions and disposals in Magnum Limited, and a penalty of Rs. 50,000 was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 7 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 3. A Show Cause Notice (hereinafter referred to as "SCN") dated January 14, 2013 was sent to the Noticee by “RPAD” in terms of the provisions of Rule 4 of the Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 requiring to show cause as to why an inquiry should not be held against the Noticee and why penalty, if any, should not be imposed on the Noticee under Section 15A (b) of the SEBI Act. In the said SCN, it was alleged:
Page 3 of 7 dated May 7, 2013 to appear on May 28, 2013 at 11:00 a.m. at SEBI Bhavan, Mumbai, and since no reply was received till date, Noticee was again advised to file its reply immediately. This hearing notice was also sent to the Noticee through an email on May 14, 2013.
Page 4 of 7 shares or the acquisition of shares or voting rights in the target company to,- (a) every stock exchange where the shares of the target company are listed; and, (b) the target company at its registered office."
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Source: SecMarx — sebi:CFD/PVPL/AO/DRK-CS/EAD-3/369/35-13. 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.