sebi:EAD-2/AO/124/2013
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Facts / Headnote
Penalty of INR 5,00,000 imposed under section 15H of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 12
- s. 15J
Regulations
- Reg. 10
- Reg. 14
- Reg. 11
- Reg. 58
- Reg. 8A
Holding
The Noticee acquired 40,00,000 shares constituting 24% of FDIL on October 30 & 31, 2009 and failed to make a public announcement as required under regulations 10 and 14 of the SAST Regulations, and a monetary penalty of Rs. 5,00,000 under section 15H of the SEBI Act was imposed.
Full text
Page 2 of 7 Show Cause Notice, Reply of Noticee and Personal Hearing: 3. A Show Cause Notice dated October 08, 2012 (hereinafter referred to as “SCN”) was issued to the Noticee under rule 4(1) of the Adjudicating Rules to show cause as to why an inquiry be not held against it and penalty be not imposed under section 15 H of the SEBI Act, for the alleged violations which is given hereunder:
Page 3 of 7 It was agreed upon that the said shares cannot be sold/transferred/hypothecated further by pledgee except for the purpose of margin requirements with stock brokers.
Page 4 of 7 the Noticee, is in violation of aforesaid SAST Regulations and attracts the imposition of monetary penalty under section 15 H of the SEBI Act, in light of
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Source: SecMarx — sebi:EAD-2/AO/124/2013. 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.