sebi:EAD-9/SM/123/2018
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticee held guilty of disclosure violations and monetary penalty of Rs.6,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
Regulations
- Reg. 4
- Reg. 199
- Reg. 13(1)
- Reg. 15
- Reg. 3(a)
- Reg. 7(1)
- Reg. 12
- Reg. 201
- Reg. 35
Parties
- Sanjay Jethalal Soni
Holding
Sanjay Jethalal Soni was held guilty of violating Regulation 7(1) of SAST Regulations, 1997 and Regulations 13(1) and 13(3) of PIT Regulations, 1992 for non-disclosure of changes in shareholding in Parichay Investments Ltd. A monetary penalty of Rs.6,00,000 was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
In the matter of Parichay Investments Ltd against Sanjay Jethalal Soni Page 2 of 8 Date Triggered while holding% Particulars Violations – Non-disclosure under 30-Nov-10 5.64 Change in shareholding by more than 2% 7(1) of SAST 1997 and 13(1) of PIT 1992 4-Jan-11 5.09 Change in shareholding by more than 2% 7(1) of SAST 1997 and 13(1) of PIT 1992 7-Jan-11 2.51 Change in shareholding by more than 2% 13(3) of PIT 1992
In the matter of Parichay Investments Ltd against Sanjay Jethalal Soni Page 3 of 8 October 13, 2017. In response, Sanjay confirmed appearance vide letter dated September 27, 2017. However, he had not appeared before me on the scheduled hearing date. 9 Another opportunity of personal hearing was granted on November 6 and 7, 2017 to Sanjay. On the day of hearing Authorised Representative (“AR”) appeared before me on the basis of authorization of Sanjay and submitted the written submissions on the even date and also reiterated the same during hearing and undertook to make further submissions before November 24, 2017. 10 The submission made by AR vide letter dated November 6, 2017, inter-alia states that he require more time to arrange contract notes and submit the built-up of shareholding to answer the charge of violation of Trigger defaults as alleged in the SCN. 11 However, till the date of passing this Order Sanjay/AR had not made any additional
In the matter of Parichay Investments Ltd against Sanjay Jethalal Soni Page 4 of 8 (a) the receipt of intimation of allotment of shares; or (b) the acquisition of shares or voting rights, as the case may be.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:EAD-9/SM/123/2018. 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.