sebi:EAD-5/BS/AO/72/2017-18
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed jointly and severally for violation of Regulation 7(1) read with 7(2) of SAST Regulations, 1997
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 7(2)
Parties
- Heena Developers Pvt. Ltd.
- Ms. Anjana Gupta
- Ms. Saroj Gupta
- Shri Bharat Gupta
Holding
The Noticees, as Persons Acting in Concert, violated Regulation 7(1) read with 7(2) of SAST Regulations, 1997 by failing to disclose change in collective shareholding crossing 5% and are jointly and severally liable to a monetary penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication Order in the matter of IFL Promoters Ltd. Page 2 of 10 Ms. Anjana Gupta, Ms. Saroj Gupta and Shri Bharat Gupta (hereinafter referred to as the Noticees).
Adjudication Order in the matter of IFL Promoters Ltd. Page 3 of 10 9. Later, as no confirmation regarding filing of settlement application with SEBI was received from the Noticees, they were granted another opportunity for personal hearing on December 20, 2017. The said hearing notice was delivered to the Noticees. However, the Noticees did not appear for the said hearing.
Adjudication Order in the matter of IFL Promoters Ltd. Page 4 of 10 (2) The disclosures mentioned in sub-regulations (1) and (1A) shall be made within two days, - (a) the receipt of intimation of allotment of shares; or (b) the acquisition of shares or voting rights, as the case may be.”
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Source: SecMarx — sebi:EAD-5/BS/AO/72/2017-18. 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.