sebi:EAD-2/DSR/JAK/650-653/2017
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Facts / Headnote
Monetary penalty of Rs. 2,00,000 imposed jointly and severally
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 8(2)
- Reg. 30(1)
- Reg. 30(2)
Parties
- Shri Rajesh Kansal
- Ms. Aruna Kansal
- Shri Ratan Goyal
- PSIDC
Holding
The Noticees violated Regulation 30(1) and 30(2) of SAST Regulations, 2011 by delayed disclosure, and a monetary penalty of Rs. 2,00,000 jointly and severally was imposed under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 7 Appointment of Adjudicating Officer 2. I have been appointed as the Adjudicating Officer vide order dated December 23, 2015, under Section 15 I of the SEBI Act read with Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the 'Rules') to inquire into and adjudge the alleged violation of the provisions of law by the noticees under Section 15A(b) of the SEBI Act . Show Cause Notice, Reply and Personal Hearing
Page 3 of 7 having investment value of Rs. 29 lacs was transferred in favour of the promoters during October 2012. Hence PSIDC at present is not holding any shareholding in KFL as investment subscribed by it already stands settled and shares were transferred during October 2012".
Page 4 of 7 (2) The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may be specified.
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Source: SecMarx — sebi:EAD-2/DSR/JAK/650-653/2017. 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.