sebi:EAD-2/DSR/RG/865/2017
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Facts / Headnote
Violation established; monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
Regulations
- Reg. 29(1)
- Reg. 29(3)
Parties
- Shri Harbhajansingh Maliksingh Rajpal
Holding
The Noticee violated Regulation 29(1) read with Regulation 29(3) of the SAST Regulations by failing to make timely disclosures on crossing 5% shareholding in ZBIL, and is liable to a monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 7 3. SEBI has, therefore, initiated adjudication proceedings against the Noticee for the alleged violation of the provisions of Regulation 29(1) read with Regulation 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as ‘SAST Regulations’) in the matter of ZBIL.
Page 3 of 7 Consideration of Issues, Evidence and Findings 7. I have carefully perused the charges levelled against the Noticee as per the SCN and the material as available on record. The issues that arise for consideration in the present case are: (a) Whether the Noticee has violated the provisions of Regulation 29(1) read with Regulation 29(3) of the SAST Regulations? (b) Does the violation, if any, on the part of the Noticee attracts any penalty under Section 15A (b) of the SEBI Act, 1992? (c) If yes, what should be the quantum of penalty?
Page 4 of 7 Name of the acquirer Date of acquisition Pre- acquisition shareholding Shares acquired Post- acquisition Shareholding Shri Harbhajansingh Maliksingh Rajpal April 18, 2015 65,04,200 (4.95%) 1,25,609 (0.095%) 66,29,909 (5.05%)
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Source: SecMarx — sebi:EAD-2/DSR/RG/865/2017. 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.