sebi:EAD-5/SVKM/AA/AO/23/2015-16
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Facts / Headnote
Violations established in part; total monetary penalty of Rs 9,00,000 imposed
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
- s. 11C(3)
- s. 11C(5)
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 11
- Reg. 13(1)
- Reg. 11(1)
- Reg. 7(2)
- Reg. 35
Parties
- Lakeside Properties Private Limited
Holding
The Noticee violated Regulation 7(1) read with Regulation 7(2) of SAST Regulations, 1997, Regulation 13(1) of PIT Regulations, 1992 and Sections 11C(3) and 11C(5) of SEBI Act, 1992 and is liable to penalty under Sections 15A(a) and 15A(b). The allegation of violation of Regulation 7(1A) of SAST Regulations, 1997 does not stand established.
Full text
Adjudication Order against Lakeside Properties Pvt. Ltd. in the matter of Mahan Industries Ltd. Page 2 of 17 of ` 1/- each to the preferential allottees of the convertible equity warrants. Therefore, on February 20, 2010 MIL had issued capital of 32,00,00,000 shares of ` 1/- each and outstanding convertible preferential warrants worth ` 5,15,00,000/-
Adjudication Order against Lakeside Properties Pvt. Ltd. in the matter of Mahan Industries Ltd. Page 3 of 17 Trading) Regulations, 1992 (PIT Regulations, 1992). However, it was observed that the Noticee did not make the requisite disclosure as stipulated by the afore- mentioned regulation. Therefore, it was alleged that the Noticee violated the provisions of regulation 13(1) of PIT Regulations, 1992.
Adjudication Order against Lakeside Properties Pvt. Ltd. in the matter of Mahan Industries Ltd. Page 4 of 17 Sunil Kumar, I have been appointed as Adjudicating Officer, in the present matter, vide order dated June 22, 2015. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
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Source: SecMarx — sebi:EAD-5/SVKM/AA/AO/23/2015-16. 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.