sebi:EAD-7/BJD/NJMR/2019-20/3527

SEBI · SEBI · 2019-05-24 · B J Dilip, Adjudicating Officer

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Facts / Headnote

Penalty of Rs. 5,00,000 imposed on Noticee

Provisions invoked

• s. 15A
• s. 15
• s. 19
• s. 15I
• s. 15J

Regulations

• Reg. 29

Parties

• T Lakshminarayanan

Holding

The Noticee violated Regulation 29(1) read with Regulation 29(3) of SEBI (SAST) Regulations, 2011 by failing to disclose acquisition exceeding 5% in Andhra Petrochemicals Ltd., and a monetary penalty of Rs. 5,00,000 under Section 15A(b) of SEBI Act was imposed.

Full text

Adjudication Order in respect of T Lakshminarayanan Page 2 of 9 APPOINTMENT OF ADJUDICATING OFFICER 3. Pursuant to examination, SEBI initiated Adjudication Proceedings against the Noticee and appointed the undersigned as the Adjudicating Officer vide Order dated May 24, 2019 under Section 19 of SEBI Act read with Sub-section (1) of Section 15-I of the SEBI Act, 1992 and Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “SEBI Adjudication Rules”) to inquire into and adjudge the alleged violation committed by the Noticee, under Section 15A(b) of the SEBI Act. SHOW CAUSE NOTICE, REPLY AND HEARING

Adjudication Order in respect of T Lakshminarayanan Page 3 of 9 a sum of ` 5,00,000/- towards penalty for my ignorance, without prejudice to my right to agitate on substantial issues in appropriate fora.

Adjudication Order in respect of T Lakshminarayanan Page 4 of 9 8. Before moving forward, it is pertinent to refer to the relevant provisions of SEBI (SAST) Regulations, 2011, which reads as under:

Source: SecMarx — sebi:EAD-7/BJD/NJMR/2019-20/3527. 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.