sebi:EAD/PM-AA/AO/21-22/2017-18
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalties imposed under Section 15A(b) of SEBI Act, 1992: Rs. 2,00,000 on Prime Capital Market Ltd. and Rs. 8,00,000 on Warner Multimedia Ltd.
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 13
- Reg. 13(5)
- Reg. 35(2)
Parties
- Prime Capital Market Ltd.
- Warner Multimedia Ltd.
Holding
Prime Capital Market Ltd. and Warner Multimedia Ltd. failed to make requisite disclosures to the stock exchange within the timeline under Regulation 13(4A) read with Regulation 13(5) of PIT Regulations, 1992 on 2 and 8 occasions respectively, and are liable for monetary penalty under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Prime Capital and Warner Multimedia in the matter of Blue Circle Services Limited Page 2 of 14 Insider Trading) Regulations, 1992 (hereinafter referred to as “PIT Regulations, 1992”).The details of such changes in the shareholding of Prime in BCSL are as under: Disclosure under Regulation 13(4A) read with Regulation 13(5) of PIT Regulations Date of transaction Name of the Promoter entity Buy / Sale Number of shares sold Trade Value Date on which disclosure was required to be made Date on which disclosure made to Company/Exchange 22.02.12 Prime Capital Market Ltd. Sale 1,17,403 89,18,878 24.02.12 No disclosure made 23.02.12 Prime Capital Market Ltd. Sale 7,597 5,74,488 27.02.12 No disclosure made 07.02.13 Prime Capital Market Ltd. Sale 1,70,000 54,65,500 11.02.13 No disclosure made
Adjudication Order in respect of Prime Capital and Warner Multimedia in the matter of Blue Circle Services Limited Page 3 of 14 & 28.12.12 Multimedia Ltd. 31.12.12 Warner Multimedia Ltd. Buy 1,12,678 60,96,714.4 02.01.13 No disclosure made 01.01.13 & 02.01.13 Warner Multimedia Ltd. Buy 78,000 41,64,700 04.01.13 No disclosure made 03.01.13 Warner Multimedia Ltd. Buy 69,900 37,34,660 07.01.13 No disclosure made 04.01.13 Warner Multimedia Ltd. Buy 1,10,000 57,18,349.4 08.01.13 No disclosure made APPOINTMENT OF ADJUDICATING OFFICER 4. Ms. Anita Kenkare was appointed as Adjudicating Officer under section 15I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”) read with rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) to inquire into and adjudge under section 15A(b) of the SEBI Act for the alleged violations of Regulation 13(4A) read with Regulation 13(5) of PIT Regulations, 1992 by Prime and Warner (hereinafter individually referred to by name and jointly as “Noticees”). Subsequently, vide order dated October 04, 2017, I have been appointed as Adjudicating Officer in place of Ms. Anita Kenkare in the present matter. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in respect of Prime Capital and Warner Multimedia in the matter of Blue Circle Services Limited Page 4 of 14
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:EAD/PM-AA/AO/21-22/2017-18. 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.