sebi:EAD-5/SVKM/AO/29-31/2015-16
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Facts / Headnote
Violation of Regulation 7(1) read with Regulation 7(2) of SAST Regulations, 1997 and Sections 11C(3) and 11C(5) of SEBI Act, 1992 held established; allegation under Regulation 7(1A) held not established; monetary penalties imposed.
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
- s. 11C(3)
- s. 11C(5)
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 11
- Reg. 11(1)
- Reg. 7(2)
- Reg. 35
- Reg. 35(2)
Parties
- Sourabh H Bora
- Rakhi S Bora
- Sourabh H Bora HUF
Holding
The noticees violated Regulation 7(1) read with Regulation 7(2) of SAST Regulations, 1997 by failing to disclose acquisition of 13.86% shares of Mahan Industries Ltd. within two days and violated Sections 11C(3) and 11C(5) by failing to comply with investigation summons. The allegation of violation of Regulation 7(1A) was not established.
Full text
Adjudication Order against Sourabh H Bora, Rakhi S Bora and Sourabh H Bora HUF in the matter of Mahan Industries Ltd. Page 2 of 18 Name No. of shares allotted % of shares to the issued capital of the company (37,15,00,000 shares of `.1/- each) Sourabh H Bora 1,60,00,000 4.31 Rakhi S Bora 1,75,00,000 4.71 Sourabh H Bora HUF 1,80,00,000 4.85 Total 5,15,00,000 13.86
Adjudication Order against Sourabh H Bora, Rakhi S Bora and Sourabh H Bora HUF in the matter of Mahan Industries Ltd. Page 3 of 18 in person before the IA on March 20, 2013 to answer questions in relation to the investigation.
Adjudication Order against Sourabh H Bora, Rakhi S Bora and Sourabh H Bora HUF in the matter of Mahan Industries Ltd. Page 4 of 18 SCN was duly delivered to the noticees. However, no reply to the SCN was submitted by the noticees within the time prescribed in the SCN.
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Source: SecMarx — sebi:EAD-5/SVKM/AO/29-31/2015-16. 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.