sebi:EAD-2/DSR/VVK/315/2014
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Facts / Headnote
Penalty imposed on Noticee under Section 15A(b) of the SEBI Act, 1992
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13(4)
- Reg. 13(5)
- Reg. 30(1)
- Reg. 31(1)
- Reg. 31(3)
- Reg. 30(3)
Parties
- Ms. Pratima Pravin Shah
Holding
The Noticee, Ms. Pratima Pravin Shah, violated Regulation 31(1), 31(2) read with Regulation 31(3) of the Takeover Regulations, 2011 and Regulation 13(4), 13(4A) read with Regulation 13(5) of the PIT Regulations, 1992 by failing to disclose changes in shareholding due to invocation of pledge, and is liable for a monetary penalty of Rs. 20,00,000 under Section 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 8 quarter ended June 30, 2012 to 7.76% during the quarter ended September 30, 2012 thereby causing decrease of 9.2% in the shareholding of the noticee.
Page 3 of 8 Consideration of Issues, Evidence and Findings 7. I have carefully perused the charges leveled against the Noticee in the SCN and the documents available on record. In the instant case, the following issues arise for consideration and determination :-
Page 4 of 8 (b) the target company at its registered office. PIT Regulations, 1992 Disclosure of interest or holding by directors and officers and substantial shareholders in a listed companies - Initial & Continual Disclosure.
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Source: SecMarx — sebi:EAD-2/DSR/VVK/315/2014. 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.