sebi:EAD-12/SM/28/2018
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Facts / Headnote
Noticee held guilty of disclosure violations and monetary penalty of Rs 1,00,000 imposed under Section 15A(b) of the SEBI Act, 1992
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
Regulations
- Reg. 7
- Reg. 13
- Reg. 13(1)
- Reg. 13(3)
- Reg. 29(1)
- Reg. 7(1)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 7(2)
- Reg. 201
Parties
- Lekhraj Lalwani HUF
Holding
The Adjudicating Officer held Lekhraj Lalwani HUF guilty of failing to disclose acquisition exceeding 5% on July 17, 2013 and subsequent disposal causing more than 2% change on November 26, 2013 under SAST and PIT disclosure provisions, and imposed a consolidated penalty of Rs 1,00,000 under Section 15A(b). Proceedings against the HUF were held not abated by death of the Karta on January 06, 2018.
Full text
In the matter of Aagam Capital Limited Page 2 of 10 subsequently reduced its holdings to 3.26% of Share Capital of the company by selling shares on November 25, 2013 and November 26, 2013.
In the matter of Aagam Capital Limited Page 3 of 10 Show Cause Notice, Reply and Personal Hearing 9. Based on the findings, Show Cause Notice dated July 14, 2017 ("SCN") was issued to the Noticee. SCN was duly delivered at the address of the Noticee.
In the matter of Aagam Capital Limited Page 4 of 10 purchase or sale within two days of purchase or sale under regulation 7(1A) read with regulation 7(2) of the Takeover Regulations, 1997.
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Source: SecMarx — sebi:EAD-12/SM/28/2018. 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.