sebi:EAD-5/SVKM/AO/09/2017-18
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Disposed without penalty
Provisions invoked
- s. 16
- s. 23
- s. 23H
- s. 29A
- s. 23J
- s. 16(1)
Parties
- Shri Amol Sadashiv Solaskar
Holding
The Noticee contravened Section 16 of SCRA, 1956 read with SEBI Notification No. S.O. 184(E) dated March 01, 2000 read with Section 2(i)(a) of SCRA, 1956 by delayed payment, but no monetary penalty under Section 23H was imposed and the matter was disposed of without any penalty.
Full text
Adjudication Order against Shri Amol Sadashiv Solaskar in the matter of Horizon Infrastructure Limited Page 2 of 9 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order against Shri Amol Sadashiv Solaskar in the matter of Horizon Infrastructure Limited Page 3 of 9 i) Due to financial difficulties there was delay in making the payment by the Noticee for the purchase of 15,000 shares to Krosslink Infrastructure Limited beyond 24 hours. There was delay of overall 2 months.
Adjudication Order against Shri Amol Sadashiv Solaskar in the matter of Horizon Infrastructure Limited Page 4 of 9 toward purchase of 15,000 shares of HIL beyond the time limit specified in Section 2(i) of the SCRA, 1956?
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Source: SecMarx — sebi:EAD-5/SVKM/AO/09/2017-18. 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.