sebi:CO/SBM/EAD-3/08/2017
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Facts / Headnote
Settlement order disposing of adjudication proceedings against Emmpac Holdings Private Limited for violation of Regulation 7(1A) read with Regulation 7(2) of the SAST Regulations
Regulations
- Reg. 7
- Reg. 3
- Reg. 17
- Reg. 15
- Reg. 14(1)
- Reg. 11(1)
- Reg. 7(2)
Parties
- Emmpac Holdings Private Limited
Holding
The adjudication proceedings initiated against Emmpac Holdings Private Limited for violation of Regulation 7(1A) read with Regulation 7(2) of the SAST Regulations are disposed of pursuant to settlement on payment of Rs. 2,00,000/-. The settlement order does not cover the alleged violation of Regulation 11(1) read with Regulation 14(1) of the SAST Regulations, which remains sub-judice before the Securities Appellate Tribunal.
Full text
Page 2 of 4 23, 2005. The said increase in the shareholding of the promoters/promoter group of EIL (including the change in shareholding of the applicant) , prima- facie, triggered the creeping acquisition limit prescribed under the provisions of Regulation 11(1) of the SAST Regulations. It is alleged in the SCN that the applicant along with other promoters of EIL had failed to make the necessary public announcement pertaining to the aforementioned change in the shareholding of the promoters/promoter group, within the prescribed time frame, as specified under Regulation 11(1) read with Regulation 14(1) of the SAST Regulations. Therefore, it was alleged that the applicant has violated the provisions of the SAST Regulations, as mentioned above.
Page 3 of 4 alleged violation of Regulation 11(1) read with Regulation 14(1) of the SAST Regulations as the matter regarding the alleged violation of Regulation 11(1) read with Regulation 14(1) of the SAST Regulations is sub-judice and pending before Hon’ble Securities Appellate Tribunal in Appeal no. 329 of 2015 in re: Anil Monga vs Ors. Vs. SEBI.
Page 4 of 4 7. The applicant, vide its letter dated November 10, 2017, has remitted a sum of Rs. 2,00,000/- (Rupees Two Lakh Only) towards the settlement charges through Demand Draft No. 000217 dated November 10, 2017 drawn on HDFC Bank Ltd.
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Source: SecMarx — sebi:CO/SBM/EAD-3/08/2017. 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.