sebi:EAD-5/SVKM/DS/AO/48/2015-16
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Facts / Headnote
Violation established; penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15I
- s. 15H
- s. 15F
Regulations
- Reg. 13
- Reg. 13(1)
- Reg. 7
- Reg. 13(3)
- Reg. 7(1)
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29
- Reg. 201
- Reg. 30(2)
Parties
- Vipul Shah
Holding
The Noticee violated Regulations 13(3), 13(4A) read with 13(5) of PIT Regulations, 1992 and Regulations 29(2) read with 29(3) and 30(2) read with 30(3) of SAST Regulations, 2011 by failing to disclose changes in shareholding on September 25, 2012, October 27, 2012 and December 26, 2012. A total monetary penalty of Rs 4,00,00,000 was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Vipul Shah in the matter of Parikh Herbals Limited Page 2 of 17 3. SEBI, therefore, initiated Adjudication Proceedings against the Noticee under Section 15A(b) of the SEBI Act, 1992 (hereinafter referred to as SEBI Act, 1992) for the alleged violation ofRegulations 13(3), 13(4A) read with 13(5) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as 'PIT Regulations, 1992') and Regulations 29(2) read with 29(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as 'SAST Regulations, 2011'), Regulations 30(2) read with 30(3) of SAST Regulations, 2011.
Adjudication Order in respect of Vipul Shah in the matter of Parikh Herbals Limited Page 3 of 17 7. Noticee was granted an opportunity of personal hearing on December 23, 2014. Vide letter dated December 23, 2014, Noticee filed his reply to the SCN. The gist of
Adjudication Order in respect of Vipul Shah in the matter of Parikh Herbals Limited Page 4 of 17 9. Subsequently Noticee vide letter dated February 11, 2015, filed the following documents :
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Source: SecMarx — sebi:EAD-5/SVKM/DS/AO/48/2015-16. 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.