sebi:EAD/KS/VB/AO/113/2017-18
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Facts / Headnote
Penalty imposed on Noticee for failure to make disclosures under Regulation 29(1) read with Regulation 29(3) of SAST, 2011
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 15F
Regulations
- Reg. 29(1)
- Reg. 29(3)
Parties
- Mahanadhi Investment Advisory Services Pvt Ltd
Holding
The Noticee violated Regulation 29(1) read with Regulation 29(3) of SAST, 2011 by failing to make requisite disclosures to the company after shareholding crossed 5%, and is liable for a penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 10 is noted that the Noticee while undertaking the aforesaid transaction had violated the provisions of Regulation 29(1) read with Regulation 29(3) of the SAST,2011.
Page 3 of 10 edition was made intimating the Noticee about the SCN, which was also uploaded in the SEBI website. Vide the public notice the Noticee were advised to file their replies within 14 days from the date of publication and were also granted a personal hearing on March 20,2018.
Page 4 of 10 Noticee in the company crossed 5% and was required to make disclosure under Regulation 29(1) read with Regulation 29(3) of SAST, 2011. However, it is alleged that Noticee had failed to make disclosure in accordance with Regulation 29(1) read with Regulation 29(3) of the SAST, 2011.
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Source: SecMarx — sebi:EAD/KS/VB/AO/113/2017-18. 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.