sebi:EAD-3/AO/JS/VRP/23/2018
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Facts / Headnote
Penalty imposed on Noticee for violation of Regulation 7(1A) read with Regulation 7(2) of SEBI (SAST) Regulations, 1997
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 199
- Reg. 7(2)
Parties
- G K Consultants Limited
Holding
The Noticee G K Consultants Limited violated Regulation 7(1A) read with Regulation 7(2) of SEBI (SAST) Regulations, 1997 by failing to make timely disclosures for transactions on 31.12.2009, 18.01.2010 and 01.02.2010, and a penalty of Rs 10,00,000/- was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
inquiry should not be held against the Noticees and penalty be not imposed under section 15A(b) of the SEBI Act, 1992. The Notice was duly delivered.
4. That the aforesaid investment of Rs. 40 lacs was also made in NHCL for their up-coming project; 5. That our company never received any dividend from NHCL till date;
submission of information to Stock Exchange, it was on the part of NHCL. 8. That we are enclosing herewith copies of loan agreements, loan requisition slip, disclosure made to NHCL, etc of all three parties as mentioned above for your kind reference.
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Source: SecMarx — sebi:EAD-3/AO/JS/VRP/23/2018. 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.