sebi:EAD-2/DSR/VVK/104/2014
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Facts / Headnote
Penalty of Rs. 3,00,000 imposed on the Noticee for violation of Regulation 13(1) of the PIT Regulations, 1992
Provisions invoked
- s. 15A
- s. 15
Regulations
- Reg. 13(1)
Parties
- Bengal Finance and Investment Pvt. Ltd.
Holding
The Noticee violated Regulation 13(1) of the PIT Regulations, 1992 by failing to disclose within two working days its acquisition of 5.61% shareholding in Kajaria Ceramics Ltd., warranting a monetary penalty of Rs. 3,00,000 under Section 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 6 Appointment of Adjudicating Officer : 3. In view of the above, SEBI vide order dated the 19th December,2013 appointed the undersigned as the Adjudicating Officer to inquire into and adjudge under Section 15-I of the Securities and Exchange Board of India Act,1992 (hereinafter referred to as the `SEBI Act,1992') read with Rule 3 of the Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules,1995 ( hereinafter referred to as " the Rules") the violation of the provisions of the PIT Regulations,1992 alleged to have been committed by BFIPL.
Page 3 of 6 " - The intention of the company was never to violate any regulations or harm investor's interest. - We have now filed the disclosures with KCL as required by regulation 13(1) of the SEBI PIT Regulations,1992. " The relevant disclosure filed with the target company i.e.KCL is dated 4th April,2014.
Page 4 of 6 (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/VVK/104/2014. 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.