sebi:EAD-2/AO/108/2012
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Facts / Headnote
Violation found; penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 2(30)
Regulations
- Reg. 3(3)
- Reg. 13(4)
- Reg. 13(5)
- Reg. 2(g)
Parties
- Shri Mahendra Pandey
Holding
The Noticee violated Regulation 13(4) read with Regulation 13(5) of the PIT Regulations and a penalty of Rs. 10,00,000 under Section 15A(b) of the SEBI Act was imposed on Shri Mahendra Pandey.
Full text
Page 2 of 8 as to why an inquiry should not be held against him for the alleged violations. The SCN alleged that the Noticee being a promoter and holding various positions in ASL is an officer in terms of definition provided under Regulation 2(g) of the PIT Regulations read with Section 2(30) of the Companies Act, 1956 during the investigation period and had traded in the shares of the company in quantities of 25000 shares and above but failed to make disclosures as required under Regulation 13(4) read with Regulation 13(5) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as the 'PIT Regulations).
Page 3 of 8 Noticee on November 19, 2012 vide notice dated November 12, 2012. However, the Noticee neither attended the said hearing nor made any correspondences in this regard.
Page 4 of 8 (a) the receipts of intimation of allotment of shares, or (b) the acquisition or sale of shares or voting rights, as the case may be.
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Source: SecMarx — sebi:EAD-2/AO/108/2012. 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.