sebi:EAD/BJD/VS/14-19/2017-18
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Facts / Headnote
Violations established against Noticees 1, 2, 3, 4, 5 and 6 under SEBI (PIT) Regulations, 1992 and SEBI (SAST) Regulations, 1997 read with Regulation 35(2) of SEBI (SAST) Regulations, 2011; charges under Regulation 13(3) read with 13(5) of PIT Regulations not established against Noticee 3; penalty imposed under Section 15A(b) of SEBI Act, 1992
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 182
Regulations
- Reg. 7
- Reg. 199
- Reg. 13
- Reg. 11
- Reg. 13(1)
- Reg. 13(3)
- Reg. 8
- Reg. 7(3)
- Reg. 13(6)
- Reg. 13(4)
- Reg. 13(5)
- Reg. 201
- Reg. 35
- Reg. 8(3)
- Reg. 35(2)
Parties
- Anand Credit Limited (Noticee 1)
- Ramesh L Shah (MD & Promoter) (Noticee 2)
- M/s. Anand Finstock Services Limited (Noticee 3)
- Shri Mafatbhai L Desai (Noticee 4)
- Noticee 5 (broker, name not specified in extract)
- Shri Halari Brijesh Ashok (Noticee 6)
Holding
The Noticees were held liable for failing to make mandatory disclosures to the stock exchange (BSE) and/or the company under the SEBI (PIT) Regulations, 1992 and SEBI (SAST) Regulations, 1997 (as continued under Regulation 35(2) of SAST 2011), and a penalty of Rs. 1,00,000 was imposed for violation of Regulation 7(1) of SEBI (SAST) Regulations 1997 read with Regulation 35(2) of SEBI (SAST) Regulation 2011. Charges against Noticee 3 under Regulation 13(3) read with 13(5) of PIT Regulations were dropped as proof of disclosure to the company was submitted.
Full text
______________________________________________________________________________________ Adjudication Order in matter of Anand Credit Limited Page 2 of 24
______________________________________________________________________________________ Adjudication Order in matter of Anand Credit Limited Page 3 of 24
______________________________________________________________________________________ Adjudication Order in matter of Anand Credit Limited Page 4 of 24
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Source: SecMarx — sebi:EAD/BJD/VS/14-19/2017-18. 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.