sebi:EAD-2/SS/VS/2019-20/2653
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Facts / Headnote
SCN disposed of; no monetary penalty imposed under section 15G or 15HB; disgorgement of profits already credited to Investor Protection and Education Fund treated as sufficient
Provisions invoked
- s. 12A
- s. 15H
- s. 15I
- s. 15G
- s. 15J
Regulations
- Reg. 9
- Reg. 5
- Reg. 3
- Reg. 4(1)
- Reg. 9(1)
- Reg. 9(2)
Parties
- Mr. K. Narasimhan
Holding
The Adjudicating Officer held that while the Noticee Mr. K. Narasimhan technically violated section 12A(d) and (e) of the SEBI Act read with regulation 4(1) of the PIT Regulations by purchasing 100 shares while in possession of UPSI, and also violated clause 10 of the Code of Conduct by executing contra trades within six months, no penalty was imposed under section 15G or section 15HB as the disgorgement of profits of ₹48,805/- to SEBI's Investor Protection and Education Fund was deemed sufficient and commensurate.
Full text
________________________________________________________________________ Adjudication Order in the matter of Allsec Technologies Limited Page 2 of 9 (File Ref No.: EAD-2/SS/VS/2/2/2019-20)
________________________________________________________________________ Adjudication Order in the matter of Allsec Technologies Limited Page 3 of 9 (File Ref No.: EAD-2/SS/VS/2/2/2019-20)
________________________________________________________________________ Adjudication Order in the matter of Allsec Technologies Limited Page 4 of 9 (File Ref No.: EAD-2/SS/VS/2/2/2019-20)
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Source: SecMarx — sebi:EAD-2/SS/VS/2019-20/2653. 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.