sebi:EAD/KS/VB/AO/14-28/2017-18
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Facts / Headnote
Penalty imposed of Rs. 4,00,000/- jointly and severally on the Noticees under Section 15A(b) of the SEBI Act for violation of Regulation 30(2) read with Regulation 30(3) of SAST, 2011 for financial years 2011-12 and 2012-13.
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
Regulations
- Reg. 8
- Reg. 8(3)
- Reg. 30(3)
- Reg. 30
- Reg. 30(2)
Parties
- R Deepalakshmi Reddy
- Chandram Rama Reddy
- Vinay Dantapally Kumar
- C Dayakar Reddy
- Naveen Reddy
- Surekha Reddy
- K Pratibha Reddy
- Ramachandra Reddy Kadiri
- Joseph Wai
- Art Khachaturian
- Laurence N Benz
- Sean Paul Carney
- Gary Kennedy
- Steve Shu Fun Kam
- Eddie Sin Po Chiu
Holding
The Noticees violated Regulation 30(2) read with Regulation 30(3) of SAST, 2011 by failing to make disclosures for financial year 2011-12 and by making delayed disclosures for financial year 2012-13, attracting penalty under Section 15A(b) of the SEBI Act. A penalty of Rs. 4,00,000/- was imposed jointly and severally on the Noticees.
Full text
Page 2 of 14 equity share capital of Moschip Semiconductor Technology Limited (hereinafter referred to as ‘MSTL/ Target Company’). The public announcement for the same was made on February 18, 2016 and the shares of the target company were listed on Bombay Stock Exchange Ltd. (hereinafter referred to as ‘BSE’).
Page 3 of 14 as to why an inquiry should not be initiated against them in terms of Rule 4 of the Adjudication Rules and penalty be not imposed under Section 15A(b) of the SEBI Act for the alleged contravention of SAST, 2011.
Page 4 of 14 from the end of each financial year to every Stock Exchange where the shares of the MSTL are listed. However the same was not disclosed by the Noticees to the Stock Exchange(i.e BSE) in the prescribed format as required under the said Regulation for the financial year 2011-12 and also there was delay of 12 days in disclosure for the financial year 2012-13.
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Source: SecMarx — sebi:EAD/KS/VB/AO/14-28/2017-18. 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.