sebi:EAD-2/AO/46/2013-14
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(4)
- Reg. 13(5)
Parties
- Noticee (promoter of KGL)
Holding
The Noticee, being a promoter of KGL, violated Regulation 13(4) read with Regulation 13(5) of the PIT Regulations by failing on 33 occasions to make continual disclosures to the company and stock exchange, and is liable for a monetary penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 8 (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as ‘PIT Regulations’) which she failed to do.
Page 3 of 8 opportunity of personal hearing on November 26, 2012 vide notice dated November 06, 2012. The personal hearing notice was sent to the Noticee by Registered Post which were delivered and acknowledged by the Noticee. The Noticee vide letter dated November 19, 2012 requested for postponement of hearing. Another opportunity of personal hearing was granted to the Noticee on January 31, 2013 vide notice dated January 16,
Page 4 of 8 Consideration of Issues, Evidence and Findings 8. I have carefully perused the charges against the Noticee mentioned in the SCN, submissions made by the Noticee, the materials and documents as available on record. The issues that arise for consideration in the present case are:
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Source: SecMarx — sebi:EAD-2/AO/46/2013-14. 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.