sebi:EAD-2/SS/VS/2018-19/1285-1291
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Facts / Headnote
Penalty of Rs. 1,00,000 each imposed on Noticee No.1 and Noticee No.2 for violation of PIT Regulations; charge under Regulation 29(2) read with 29(3) of SAST Regulations, 2011 against all Noticees held not sustained
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 13
- Reg. 11
- Reg. 2
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 30
- Reg. 2(q)(2)
Parties
- Mr. Ratan Chand Lodha
- Ms. Shobha Lodha
- RCL Enterprises Pvt. Ltd.
- Mr. Nitesh R Lodha
- Mr. Shreyans Lodha
- Mr. Satish Jain
- Ms. Nitha Lodha
Holding
Noticee No.1 (Ratan Chand Lodha) and Noticee No.2 (Shobha Lodha) violated Regulation 13(4A) read with Regulation 13(5) of PIT Regulations, 1992 for failure to disclose June 12, 2014 sales and were penalized Rs.1,00,000 each under Section 15A(b) of SEBI Act; the Regulation 29(2) SAST charge against all seven promoters was held not sustained.
Full text
________________________________________________________________________ Adjudication Order in the matter of RCL Foods Limited Page 2 of 10 (File Ref No.: EAD-2/SS/VS/28/44-50/2018-19)
________________________________________________________________________ Adjudication Order in the matter of RCL Foods Limited Page 3 of 10 (File Ref No.: EAD-2/SS/VS/28/44-50/2018-19)
________________________________________________________________________ Adjudication Order in the matter of RCL Foods Limited Page 4 of 10 (File Ref No.: EAD-2/SS/VS/28/44-50/2018-19)
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Source: SecMarx — sebi:EAD-2/SS/VS/2018-19/1285-1291. 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.