sebi:EAD-2/AO/147/2013
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Facts / Headnote
Violation established; total penalty of Rs. 2,00,000 imposed under Section 15A(b) of the SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 13
- Reg. 13(1)
- Reg. 13(4)
- Reg. 13(5)
- Reg. 7(2)
Holding
The Noticee violated Regulation 7(1) read with 7(2) of the SAST Regulations, 1997 and Regulations 13(1), 13(4A) read with 13(5) of the PIT Regulations, 1992, and is liable for monetary penalty under Section 15A(b) of the SEBI Act, with a total penalty of Rs. 2,00,000 imposed.
Full text
Page 2 of 10 not make necessary disclosures as required under SAST Regulations and the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as ‘PIT Regulations’).
Page 3 of 10 BSE on regular basis and enclosed the postal records of the information sent. 7. In the interest of natural justice and in order to conduct an inquiry as per Rule 4 (3) of the Adjudication Rules the Noticee was granted an opportunity of personal hearing on November 27, 2012 vide notice dated November 06, 2012. The personal hearing notice was sent to the Noticee by Registered Post which was delivered and acknowledged by the Noticee. The Noticee neither appeared for the hearing nor sent any correspondence in this regard. Another opportunity of personal hearing was granted to the Noticee on February 22, 2013 vide notice dated February 12, 2013. The Noticee neither appeared for the hearing nor sent any correspondence in this regard.
Page 4 of 10 10. Before moving forward, it will be appropriate to refer to the relevant provisions of SAST and PIT Regulations which read as under:-
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Source: SecMarx — sebi:EAD-2/AO/147/2013. 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.