sebi:EAD-2/DSR/RG/593/2017
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Facts / Headnote
Settlement Order disposing of the adjudication proceedings initiated against the Noticee vide the SCN dated May 12, 2016, on payment of settlement charges of Rs. 2,17,388/-.
Regulations
- Reg. 17
- Reg. 13(1)
- Reg. 15(1)
- Reg. 12(2)
Holding
The Noticee's settlement application was accepted and the adjudication proceedings initiated by the SCN dated May 12, 2016 were disposed of, on payment of Rs. 2,17,388/- towards settlement charges, without admission of facts and conclusions of law.
Full text
Page 2 of 3 Total Shareholding as on 23/07/2009 (before share split) 123993723 6.53 1898373280 24/07/2009 Share Split 247987446 6.53 3796746560 11/09/2009 Acquisition 5145000 0.14 3796842330 24/09/2009 Acquisition 5828540 0.15 3796842330 15/12/2010 Acquisition 6900000 0.18 3797530096
Page 3 of 3 which were approved by the panel of the Whole Time Members, SEBI on March 09, 2017. 6. Accordingly, vide letter dated March 20, 2017, the Noticee has remitted a sum of `2,17,388/- (Rupees Two lakh Seventeen Thousand Three Hundred and Eighty Eight Only) vide demand draft No. 004193 dated March 16, 2017, drawn on HDFC Bank towards the terms of settlement in the matter.
Total Shares / Shareholding 26,58,60,986 7.00 3,79,75,30,096 3. From the above, it was observed that the Noticee had acquired 26,58,60,986 shares constituting 7.00% of BAL during the relevant period. As a result, its shareholding in BAL crossed 5% on April 29, 2008. The said acquisition, therefore, required the Noticee to make necessary disclosures as prescribed under Regulation 13(1) of the PIT Regulations read with Regulation 12(2) of the PIT Regulations, 2015. It is alleged in the SCN that the Noticee had failed to do so.
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Source: SecMarx — sebi:EAD-2/DSR/RG/593/2017. 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.