sebi:EAD-2/DSR/RG/PU/275/2014
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Facts / Headnote
Penalty imposed on the Noticee for violation of Regulation 13(3) read with 13(5) of the PIT Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(3)
- Reg. 13(5)
Parties
- Sunmet Holdings India Pvt. Ltd. (erstwhile Sun Metals Pvt. Ltd.)
Holding
The Noticee violated Regulation 13(3) read with 13(5) of the PIT Regulations by failing to disclose to the company its acquisition of 2,00,000 shares on December 29, 2003, which increased its shareholding from 23.59% to 25.71%, and a penalty of Rs. 2,00,000 was imposed under Section 15A(b) of the SEBI Act. No violation was found with respect to the acquisition of 6,68,860 shares on March 31, 2008.
Full text
Page 2 of 9 March 31, 2008, respectively, thereby, requiring it to make disclosures to the company, as prescribed under Regulation 13(3) read with Regulation 13(5) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (herein after referred to as the 'PIT Regulations'). However, the Noticee had failed to do so. Appointment of Adjudicating Officer
Page 3 of 9 submitted copies of the Noticee's share holding patterns for the quarters ending September 2003 and December 2003.
Page 4 of 9 (5) The disclosure mentioned in sub-regulations (3) and (4) shall be made within four working days of: (a) the receipts of intimation of allotment of shares, or (b) the acquisition or sale of shares or voting rights, as the case may be.”
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Source: SecMarx — sebi:EAD-2/DSR/RG/PU/275/2014. 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.