sebi:EAD-2/DSR/PU/19/2013
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of Rs. 5,00,000 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(5)
Parties
- Shri G. Suresh
Holding
The Adjudicating Officer held Shri G. Suresh violated Regulation 13(4) read with Regulation 13(5) of the PIT Regulations for the 27,985 shares acquired on September 22, 2010 and Regulation 7(1) read with Regulation 7(2) of the Takeover Regulations, and imposed a penalty of Rs. 5,00,000 under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 9 Acquisition of Shares and Takeovers) Regulations, 1997, (herein after referred to as the ‘Takeover Regulations’). Appointment of Adjudicating Officer
Page 3 of 9 Appellate Tribunal (SAT) in the case of Pitti Electrical Equipment Pvt. Ltd. and others Vs. SEBI, dated October 31, 2013.
Page 4 of 9 exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding or voting rights, whichever is lower.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:EAD-2/DSR/PU/19/2013. 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.