sebi:EAD-2/DSR/VVK/250/2014
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Facts / Headnote
Penalty imposed on the Noticee for delayed disclosures under the Takeover Regulations, 2011
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 10
- Reg. 30(3)
- Reg. 30(1)
Parties
- Samara
Holding
The Noticee violated Regulation 30(1) and 30(2) read with Regulation 30(3) of the Takeover Regulations, 2011 by failing to make timely annual disclosures of shareholding for the year 2012, and a monetary penalty of Rs. 20,00,000 was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 8 law. The details of delayed disclosures made by the noticee are given as below :- Regulation Due date for compliance Actual date of compliance (BSE) No. of days of delay 30(1) and 30(2) 10.04.2012 12.06.2013 428
Page 3 of 8 acquisition of Shares coupled with Change in Management and became the Promoter of the AOSL. - Post this Open Offer, Samara became the largest Promoter shareholder of AOSL holding 55,66,700 Equity Shares constituting 36.33% of the total Equity Share Capital of AOSL at that time.
Page 4 of 8 to and hearing was adjourned to September 29, 2014. The noticee through its Authorized Representative M/s. Wadia & Ghandy & Co., Advocates and Solicitors appeared on behalf of the noticee on 29th September, 2014 and reiterated the submissions made vide their reply dated 30th July, 2014.
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Source: SecMarx — sebi:EAD-2/DSR/VVK/250/2014. 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.