sebi:EAD-3/JS/SP/49/2018
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Facts / Headnote
Penalty imposed on Salputri Commerce P Ltd. for non-compliance of Regulation 13(1) read with Regulation 13(5) of SEBI (Prohibition of Insider Trading) Regulations, 1992
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 15F
Regulations
- Reg. 13
- Reg. 13(1)
- Reg. 13(5)
- Reg. 29
- Reg. 12(2)
Parties
- Salputri Commerce P Ltd.
Holding
Salputri Commerce P Ltd. was found to have violated Regulation 13(1) read with Regulation 13(5) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 by failing to disclose its acquisition of 12.30% of Dunlop India Ltd.'s share capital within two working days of receipt of intimation of allotment, resulting in a delay of more than 1139 days. A monetary penalty of Rs. 3,00,000 was imposed under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order against Salputri Commerce P Ltd. in the matter of Dunlop India Ltd. Page 2 of 7 1995 (‘Adjudication Rules’) and Section 19 of the SEBI Act to inquire into and adjudge under Section 15A(b) of SEBI Act.
Adjudication Order against Salputri Commerce P Ltd. in the matter of Dunlop India Ltd. Page 3 of 7 b. Kindly also note that the disclosure has also been made by the company under Regulation 29 of the SEBI (Substantial Acquisition of shares and Takeover), 2011 in respect of shares of Falcon Tyres and Dunlop India Ltd on April 30, 2012. Accordingly, requested not to take any penal action against the company and also not to initiate any proceeding on the above matter. We will not commit such mistake in future which kindly note”.
Adjudication Order against Salputri Commerce P Ltd. in the matter of Dunlop India Ltd. Page 4 of 7 B. If yes, does the violation, if any, on the part of Salputri attract monetary penalty under Section 15A (b) of SEBI Act?
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Source: SecMarx — sebi:EAD-3/JS/SP/49/2018. 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.