sebi:DSR/AO-12/2008
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Facts / Headnote
Penalty of Rs. 1,50,000 imposed jointly and severally on six noticees for violation of Regulation 7(1) and 7(2) of SAST Regulations
Provisions invoked
- s. 15A
- s. 15
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 199
- Reg. 2(1)(e)
- Reg. 10
- Reg. 2
Parties
- Inducto Steel Ltd.
- Rakesh Reniwal (HUF)
- Blackstone Properties Pvt. Ltd.
- Weed Investment and Finance Pvt. Ltd.
- Inducto Technocasting Pvt. Ltd.
- Hariyana International Ltd.
- Hariyana Ship Demolition Pvt. Ltd.
- Hariyana Industrial Gases Pvt. Ltd.
Holding
All eight noticees were persons acting in concert whose aggregate acquisition of about 11% of market volume and 5.58% of share capital triggered disclosure under Regulations 7(1) and 7(2) of SAST Regulations, which they failed to make. A monetary penalty of Rs. 1,50,000 jointly and severally was imposed on the six surviving noticees.
Full text
2 trading days, Patch II (11/07/05 to 23/08/05) from Rs. 10.00 (11/07/05) to Rs. 27.80 (23/08/05) in 30 trading days and Patch III (02/09/05 to 19/09/05) from Rs. 27.00 (02/09/05) to Rs. 39.20 (19/09/05).
3 Sr. No. Sell Member No. of Clients Sell Quantity % of Total Qty 1 Galaxy Broking Ltd. 7 3,38,804 12.14 2 VSE Sec. Ltd. 78 2,33,286 8.36 3 Accord Capital Market 5 2,32,800 8.34 4 Ventura Sec. Ltd. 9 1,49,107 5.35 5 TJ Stock Broking Services 1 1,48,500 5.32 6 M R Share Broker Ltd. 3 1,35,130 4.84 7 DPS Shares & Sec. Pvt. Ltd. 4 1,10,650 3.97 8 Bhagwandas & Company 4 1,02,370 3.67 9 Anugraha Stock Broker 4 98,,044 3.51 10 Mangal Kesav Share & Stock 11 84,295 3.02 Total of Top 10 Members 16,32,986 57.52 Total 29,70,430 100
4 the company had submitted its last annual reports for the year 2003-04 thereafter had not submitted any annual report to the exchange. Also, the company had not disclosed the cumulative results for the year 2005-06.
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Source: SecMarx — sebi:DSR/AO-12/2008. 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.