sebi:EAD/PM-NK/AO/79/2018-19
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Show Cause Notice EAD-2/RG/14618/2014 dated May 20, 2014 disposed without imposition of any penalty - no violation found
Provisions invoked
- s. 15H
- s. 15I
- s. 23
Regulations
- Reg. 11
- Reg. 199
- Reg. 10
- Reg. 11(2)
Parties
- UP State Industrial Development Corporation Limited
Holding
The Adjudicating Officer held that UPSIDC was not a promoter or part of the promoter group of Modipon Limited and had not violated Regulation 11(2) of the SEBI (SAST) Regulations, 1997. The Show Cause Notice EAD-2/RG/14618/2014 dated May 20, 2014 issued to UPSIDC was disposed without imposition of any penalty.
Full text
Adjudication Order in the matter of Modipon Limited . Page 2 of 7 8 Mr. Manish Kumar Modi 16 UP State Industrial Development Corporation Limited 17 Modi Industries Limited
Adjudication Order in the matter of Modipon Limited . Page 3 of 7 Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) to inquire into and adjudge under section 15H (ii) of the SEBI Act, 1992 for the alleged violations of provisions of Regulation 11 (2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997 (hereinafter referred to as the SEBI (SAST) Regulations, 1997or the Takeover Regulations, 1997) by the Noticees. Subsequently, I was appointed as the Adjudicating Officer in place of Mr. D. Sura Reddy in the present matter vide order dated March 27, 2018. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in the matter of Modipon Limited . Page 4 of 7 May 20, 2014), Ms. Renu Modi (EAD-2/RG/14613/2014 Dated May 20, 2014), Transnational Growth Private Limited (EAD-2/RG/14614/2014 Dated May 20, 2014), Modi Spinning and Weaving Mills Co. Limited (EAD-2/RG/14617/2014 Dated May 20, 2014) and Modi Industries Limited (EAD-2/RG/14619/2014 Dated May 20, 2014) which have been disposed of vide order dated March 22, 2019. Further, Show Cause Notices, EAD-2/RG/14596/2014 dated May 20, 2014 issued to Daisy Investment Private Limited and SCN no. EAD-2/RG/14597/2014 dated May 20, 2014 issued to Ashoka Mercantile Limited shall be separately dealt with later.
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-NK/AO/79/2018-19. 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.