sebi:EAD-2/DSR/RG/493/2015
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Facts / Headnote
Noticee held liable and penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(4)
- Reg. 13(1)
- Reg. 13(3)
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 29(1)
- Reg. 41
Parties
- Pariscope Financial Advisors Private Limited
Holding
The Noticee violated Regulation 13(3) & 13(4A) read with Regulation 13(5) of the PIT Regulations and Regulation 29(1) & 29(2) read with Regulation 29(3) of the SAST Regulations and is liable for monetary penalty under Section 15A(b) of the SEBI Act. A penalty of Rs. 30,00,000 was imposed on Pariscope Financial Advisors Private Limited.
Full text
Page 2 of 20 read with Regulation 29(3) of the SEBI (Substantial Acquisition of shares and Takeover) Regulations, 2011 (hereinafter referred to as SAST Regulations). However, it was observed that the Noticee had failed to do so.
Page 3 of 20 requirements and requested time to submit the same. Also, vide letter dated May 14, 2015 and May 25, 2015, the Noticee requested for another opportunity of personal hearing and that it has engaged a legal counsel to represent it in the matter. Accordingly, the said request was acceded to and vide notice dated May 27, 2015, another opportunity of personal hearing was granted to the Noticee on June 15, 2015. However, vide e-mail dated June 10, 2015, a request to reschedule the said hearing was received from the legal representative of the Noticee. Therefore, the said personal hearing was rescheduled to June 19, 2015. The legal representative attended the hearing on the said date and made oral
Page 4 of 20 Disclosure of interest or holding in listed companies by certain persons - Initial Disclosure 13.(1) Any person who holds more than 5% shares or voting rights in any listed company shall disclose to the company in Form A, the number of shares or voting rights held by such person, on becoming such holder, within 2 working days of :- (a) the receipt of intimation of allotment of shares; or (b) the acquisition of shares or voting rights, as the case may be.
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Source: SecMarx — sebi:EAD-2/DSR/RG/493/2015. 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.