sebi:EAD/NP/AS/AO/40/2017

SEBI · SEBI · 2012-09-27 · Nagendraa Parakh, Adjudicating Officer

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Facts / Headnote

Penalty imposed on the noticee for failure to make disclosures under SEBI (PIT) Regulations, 1992 and SEBI (SAST) Regulations, 1997 and 2011

Provisions invoked

Regulations

Parties

Holding

The Adjudicating Officer held that the noticee, M. V. Ramana Rao, violated Regulations 29(2) r/w 29(3), 31(1) r/w 31(3), and 31(2) r/w 31(3) of SEBI (SAST) Regulations, 2011, Regulation 8A(2) of SEBI (SAST) Regulations, 1997 r/w Regulation 35 of SEBI (SAST) Regulations, 2011, and Regulations 13(3), 13(4) and 13(4A) r/w 13(5) of SEBI (PIT) Regulations, 1992, and imposed a penalty of Rs. 8,00,000 under Section 15A(b) of the SEBI Act, 1992.

Full text

P a g e 2 | 20 Promoter Dec 2011 March 2012 June 2012 Sept 2012 Venkataramana Rao Maganti (VRRM) 11.90 % 9.75 % 5.53% 5.53%

P a g e 3 | 20 CDSL LTFL 25-01-2012 09-07-2010 1,00,000 0.10 CDSL LTFL 27-01-2012 09-07-2010 50,000 0.05 CDSL CIFCL 07-03-2012 03-03-2011 4,00,000 0.39 CDSL STCI 07-03-2012 20-12-2011 2,36,956 0.23 CDSL CIFCL 09-03-2012 16-12-2011 18,000 0.02 CDSL LTFL 13-04-2012 09-07-2010 50,000 0.05 CDSL LTFL 16-04-2012 09-07-2010 1,00,000 0.10 CDSL LTFL 17-04-2012 09-07-2010 1,00,000 0.10 CDSL LTFL 18-04-2012 09-07-2010 1,00,000 0.10 CDSL SPRY Resources India Pvt. Ltd. (SPRY) 18-04-2012 Off-Market Transfer 5,00,000 0.49 CDSL LTFL 19-04-2012 09-07-2010 2,50,000 0.24 CDSL LTFL 20-04-2012 09-07-2010 1,00,000 0.10 CDSL LTFL 23-04-2012 09-07-2010 1,00,000 0.10 CDSL LTFL 23-04-2012 22-07-2010 1,50,000 0.15 CDSL LTFL 25-04-2012 22-07-2010 2,00,000 0.20 CDSL LTFL 26-04-2012 22-07-2010 2,00,000 0.20 CDSL LTFL 27-04-2012 22-07-2010 2,00,000 0.20 CDSL LTFL 30-04-2012 22-07-2010 1,50,000 0.15 CDSL LTFL 02-05-2012 22-07-2010 1,75,000 0.17 CDSL LTFL 03-05-2012 22-07-2010 1,00,000 0.10 CDSL STCI 23-05-2012 13-12-2011 6,25,000 0.61 NSDL STCI 23-05-2012 10-05-2010 21,232 0.02 NSDL SCTI 23-05-2012 16-06-2011 75,000 0.07 NSDL STCI 23-05-2012 27-03-2010 4,00,000 0.39 NSDL STCI 23-05-2012 14-05-2010 1,10,000 0.11 NSDL STCI 23-05-2012 21-05-2010 2,65,000 0.26 NSDL STCI 23-05-2012 21-04-2011 6,05,750 0.59

P a g e 4 | 20 6. It is noted from the Table above, the holding of the noticee reduced by 2.15% on 7.3.2012, by 2.05% on 27.4.2012 and by 2.47% on 23.5.2012 by way of invocation of pledge and/or off-market transfers and no disclosures were filed either with the company and the stock exchange under Regulations 13(3) r/w Regulation 13(5) of SEBI (PIT) Regulations and Regulations 29(2) r/w Regulation 29(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in respect of disposal of shares representing 2% or more of the shares of the company.

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Source: SecMarx — sebi:EAD/NP/AS/AO/40/2017. 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.