sebi:EAD-2/DSR/RG/867/2017
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Facts / Headnote
Violation found; monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
Regulations
- Reg. 13(1)
- Reg. 7(1)
- Reg. 29(3)
- Reg. 29(1)
Parties
- Ms. Mala R. Bhavnani
Holding
The Noticee violated Regulation 29(1) read with Regulation 29(3) of the SAST Regulations and Regulation 13(1) of the PIT Regulations by belated disclosures after crossing 5% on March 06, 2014, 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 9 from March 05, 2014 to March 06, 2014 i.e. her shareholding had crossed from 4.86% to 5.02% of the share capital of the company which required her to make necessary disclosures under Regulation 29(1) read with Regulation 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as the ‘SAST Regulations’) and Regulation 13(1) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as the ‘PIT Regulations’).
Page 3 of 9 hearing in the matter. Since the Noticee has expressly admitted the violation of provisions of law, I proceed further in the matter.
Page 4 of 9 (a) Every stock exchange where the shares of the target company are listed; and (b) The target company at its registered address.
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Source: SecMarx — sebi:EAD-2/DSR/RG/867/2017. 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.