sebi:EAD-9/AO/SM/37/2018-19
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Facts / Headnote
Violation established; monetary penalty of Rs 1,00,000 imposed under Section 15A(b) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
Regulations
- Reg. 13(3)
- Reg. 7(1)
- Reg. 13(5)
- Reg. 35(2)
Holding
The Noticee violated Regulation 7(1) of SAST 1997 and Regulation 13(3) read with Regulation 13(5) of PIT Regulations, 1992 by failing to disclose acquisitions in Alchemist Realty Ltd within two working days and is liable to a monetary penalty of Rs 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
In the matter of M/s Alchemist Realty Ltd Page 2 of 9 4. In this order wherever SAST 1997 is mentioned it should be referred to as SAST 1997 read with Regulation 35(2) of (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
In the matter of M/s Alchemist Realty Ltd Page 3 of 9 8. Allegations in the SCN broadly are as follows: 8.1. It was observed from the corporate announcements of ARL dated February 8, 2007 and April 25, 2007, noticee was allotted 2,46,000 shares and 2,57,000 shares respectively by way of preferential allotment and conversion of warrants. Thus, the total shareholding of noticee as on June 27, 2007 was 5,03,000 shares (7.14%) of the share capital of ARL of 7(1) of SEBI (SAST) Regulations,
In the matter of M/s Alchemist Realty Ltd Page 4 of 9 11. Another chance of personal hearing was granted on September 20, 2017 but the same was postponed due to the email followed by letter dated September 14, 2017 received from the Noticee, where it had requested for adjournment of hearing.
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Source: SecMarx — sebi:EAD-9/AO/SM/37/2018-19. 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.