sebi:EAD-5/BS/1-6/2017-18
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Facts / Headnote
Adjudication proceedings disposed of through settlement on payment of settlement charges
Provisions invoked
- s. 15A
Regulations
- Reg. 13(4)
- Reg. 15(1)
- Reg. 13(5)
Parties
- Shri Nirmal Kumar Agarwal
- Shri Mohan Lal Agarwal
- Shri Jugal Kishore Agarwal
- Shri Manoj Kumar Agarwal
- Shri Mahesh Kumar Agarwal
- Shri Ghanshyam Das Agarwal
Holding
The adjudication proceedings initiated against the six Applicants vide Show Cause Notices dated February 24, 2016 for alleged violation of Regulation 13(4) read with Regulation 13(5) of PIT Regulations, 1992 are disposed of through settlement on payment of Rs. 2,00,000 each towards settlement charges.
Full text
Settlement Order in the matter of Adhunik Metaliks Limited Page 2 of 5 increased by more than 25,000 shares due to the amalgamation. The details are given below: S. No. Promoter /Director Increase in shareholding 1 Nirmal Kumar Agarwal 230325 2 Mohan Lal Agarwal 235375 3 Jugal Kishore Agarwal 101032 4 Manoj Kumar Agarwal 286890 5 Mahesh Kumar Agarwal 241436 6 Ghanshyam Das Agarwal 362648
Settlement Order in the matter of Adhunik Metaliks Limited Page 3 of 5 Applicants under Rule 4 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “Rules”) alleging that they have violated the provisions of Regulation 13(4) read with Regulation 13(5) of PIT Regulations, 1992 by failing to make disclosure regarding change in their shareholding exceeding 25,000 shares of the company to the company and the stock exchanges within 2 working days.
Settlement Order in the matter of Adhunik Metaliks Limited Page 4 of 5 8. Accordingly, the Applicants vide separate letters dated July 18 & 19, 2017 forwarded Demand Drafts for a sum of ` 2,00,000/‐ (Rupees Two Lakh only) each towards settlement charges. The details of Demand Drafts submitted by the Applicants are as under: Name Demand Draft No. Date Drawn on Nirmal Kumar Agarwal 004543 17.07.2017 HDFC Bank Mohan Lal Agarwal 004544 17.07.2017 HDFC Bank Jugal Kishore Agarwal 004547 19.07.2017 HDFC Bank Manoj Kumar Agarwal 004548 19.07.2017 HDFC Bank Mahesh Kumar Agarwal 004540 15.07.2017 HDFC Bank Ghanshyam Das Agarwal 004542 17.07.2017 HDFC Bank
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Source: SecMarx — sebi:EAD-5/BS/1-6/2017-18. 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.