sebi:EAD-2/DSR/PU/51/2014
Facts / Headnote
Penalty imposed on the Noticee
Provisions invoked
- s. 15
- s. 15J
Regulations relied on
- SEBI (SAST) Regulations, 2011 — 30(3)
Parties
- Shri Franz Gotz
Holding
The Noticee, being a promoter of EFL, violated Regulations 30(1), 30(2) read with Regulation 30(3) of the Takeover Regulations by failing to disclose his aggregate shareholding within the stipulated time, and is liable for a monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 7 Officer) Rules, 1995 (hereinafter referred to as “said Rules”) to inquire into and adjudge under 15A(b) of the SEBI Act, the alleged violation of the provisions of law by the Noticee.
Page 3 of 7 January 31, 2014 vide letter dated January 10, 2014. The same has also been served to the Noticee by affixture as per Rule 7 of the said Rules and also by speed post. Further, the soft copy of the SCN as well as Hearing Notice have been uploaded on to the SEBI website under "Unserved Summons/ Notices". The Noticee failed to attend the personal hearing on the said date. I am convinced that sufficient efforts have been made to serve the notices and ample opportunities have been granted to the Noticee to submit reply and also attending personal hearing. Hence, I am constrained to proceed with the matter ex-parte on the basis of the material available on record.
Page 4 of 7 the thirty-first day of March, in such target company in such form as may be specified. (3) The disclosures required under sub-regulation (1) and sub-regulation (2) shall be made within seven working days from the end of each financial year to,— (a) every stock exchange where the shares of the target company are listed; and (b) the target company at its registered office.”
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Source: SecMarx — sebi:EAD-2/DSR/PU/51/2014. 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.