sebi:EAD/PM-AA/AO/38/2018-19
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Facts / Headnote
Show Cause Notice disposed of; allegations not sustained
Provisions invoked
- s. 15A
Regulations
- Reg. 13(4)
Parties
- Hemant Vastani
Holding
The allegations against Shri Hemant Vastani of violating Regulation 13(4) r/w 13(5) of the PIT Regulations could not be sustained, and the Show Cause Notice was disposed of without imposing any penalty.
Full text
Adjudication Order in respect of Hemant Vastani in the matter of MCX Page 2 of 4 provisions of Regulation 13(4) r/w 13(5) of PIT Regulations by the Noticee. SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication Order in respect of Hemant Vastani in the matter of MCX Page 3 of 4 13(4) Any person who is a director or officer of a listed company, shall disclose to the company and the stock exchange where the securities are listed in Form D, the total number of shares or voting rights held and change in shareholding or voting rights, if there has been a change in such holdings of such person and his dependents (as defined by the company) from the last disclosure made under sub-regulation (2) or under this subregulation, and the change exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding or voting rights, whichever is lower.
Adjudication Order in respect of Hemant Vastani in the matter of MCX Page 4 of 4 the term “Officer”. On perusal of the said letter, it is observed that the said letter lists the names of employees additionally covered under the definition of “Officer” after the amendment alongwith their shareholding on December 31, 2012. The name of the Noticee is also included in the said list.
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Source: SecMarx — sebi:EAD/PM-AA/AO/38/2018-19. 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.