sebi:EAD/PM-NK/AO/83/2018-19
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Facts / Headnote
Show Cause Notice disposed without imposition of any penalty
Provisions invoked
- s. 15H
- s. 15I
- s. 23
Regulations
- Reg. 11
- Reg. 199
- Reg. 10
- Reg. 11(2)
Parties
- Daisy Investment Private Limited
Holding
Regulation 11(2) of the SEBI (SAST) Regulations, 1997 was not applicable to Daisy Investment Private Limited's acquisition, so no violation arose and SCN No. EAD-2/RG/14596/2014 dated May 20, 2014 was disposed without penalty.
Full text
Adjudication Order in the matter of Modipon Limited . Page 2 of 8 2. It was alleged that some of the promoter group entities had acquired shares of Modipon but failed to comply with the requirements of the provisions of Regulation 11 (2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997.
Adjudication Order in the matter of Modipon Limited . Page 3 of 8 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 8 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. Show Cause Notice, EAD- 2/RG/14618/2014 dated May 20, 2014 issued to UP State Industrial development Corporation Limited has been disposed of vide order dated March 28, 2019. SCN no. EAD-2/RG/14597/2014 dated May 20, 2014 issued to Ashoka Mercantile Limited shall be later dealt with separately.
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Source: SecMarx — sebi:EAD/PM-NK/AO/83/2018-19. 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.