sebi:EAD-2/DSR/VVK/12/2013
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Facts / Headnote
Violation established; penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(3)
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 29
Parties
- Cementex (India) Private Limited
Holding
The Noticee, Cementex (India) Private Limited, violated Regulation 29(2) of the SAST Regulations, 2011 and Regulation 13(3) of the PIT Regulations, 1992 by failing to disclose change in its holding in VPVL for the June, 2012 quarter, and a penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 7 APPOINTMENT OF ADJUDICATING OFFICER 2. Vide Order dated 24th September,2013, I was appointed as the Adjudicating Officer under Section 15-I of the Securities and Exchange Board of India Act,1992 ( hereinafter referred to as the "SEBI Act" ) read with Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the violation of the Securities and Exchange Board of India ( Substantial Acquisition of Shares and Takeovers ) Regulations, 2011 ( hereinafter referred to as the said "SAST Regulations" ) and the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 ( hereinafter referred to as the said " PIT Regulations" ) alleged to have been committed by Noticee, under Section 15A(b) of the SEBI Act.
Page 3 of 7 * We were not aware of the provisions under which the disclosures are required to be made to the company and stock exchange. It is an unintentional mistake on our part, we, therefore, request SEBI to kindly pardon us for the lapse and henceforth, we would take utmost care and ensure compliance of securities laws".
Page 4 of 7 7. I have taken into consideration the facts and circumstances of the case and the material made available on record. I note that the allegation was that the noticee had failed to make disclosures to the stock exchange and the company with respect to its dealings during the aforesaid quarter in the scrip of VPVL as mandatorily required under the said Regulations.
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Source: SecMarx — sebi:EAD-2/DSR/VVK/12/2013. 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.