sebi:EAD-9/SM/124/2018
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; monetary penalty of Rs.18,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
Regulations
- Reg. 199
- Reg. 13(1)
- Reg. 15
- Reg. 3(a)
- Reg. 7(1)
- Reg. 12
- Reg. 201
- Reg. 35
Parties
- Krunal Gopaldas Rana
Holding
Krunal Gopaldas Rana violated Regulations 7(1) read with 7(2) of SAST Regulations, 1997 and Regulations 13(1) and 13(3) read with 13(5) of PIT Regulations, 1992 by failing to make disclosures, and is liable under Section 15A(b) of the SEBI Act, 1992. A monetary penalty of Rs.18,00,000 was imposed.
Full text
In the matter of Parichay Investments Ltd against Krunal Gopaldas Rana Page 2 of 9 Date Triggered while holding% Particulars Violations – Non-disclosure under 13-Oct-10 14.18 Crossing the threshold limit of 14% 7(1) of SAST 1997 21-Oct-10 15.75 Change in shareholding by more than 2% 13(3) of PIT 1992 28-Oct-10 18.35 Change in shareholding by more than 2% 13(3) of PIT 1992 29-Oct-10 15.55 Change in shareholding by more than 2% 13(3) of PIT 1992 3-Nov-10 11.10 Change in shareholding by more than 2% 13(3) of PIT 1992 18-Nov-10 9.07 Change in shareholding by more than 2% 13(3) of PIT 1992 24-Nov-10 6.80 Change in shareholding by more than 2% 13(3) of PIT 1992 15-Dec-10 10.44 Crossing the threshold limit of 10% 7(1) of SAST 1997 and 13(3) of PIT 1992 24-Dec-10 10.13 Crossing the threshold limit of 10% 7(1) of SAST 1997 28-Dec-10 10.05 Crossing the threshold limit of 10% 7(1) of SAST 1997 31-Dec-10 10.53 Crossing the threshold limit of 10% 7(1) of SAST 1997 20-Jan-11 12.63 Change in shareholding by more than 2% 13(3) of PIT 1992 25-Jan-11 14.08 Crossing the threshold limit of 14% 7(1) of SAST 1997 28-Jan-11 14.11 Crossing the threshold limit of 14% 7(1) of SAST 1997 9-Feb-11 14.13 Crossing the threshold limit of 14% 7(1) of SAST 1997 11-Feb-11 14.77 Change in shareholding by more than 2% 13(3) of PIT 1992 16-Feb-11 12.36 Change in shareholding by more than 2% 13(3) of PIT 1992 8-Mar-11 16.05 Crossing the threshold limit of 14% 7(1) of SAST 1997 and 13(3) of PIT 1992 29-Apr-11 14.03
In the matter of Parichay Investments Ltd against Krunal Gopaldas Rana Page 3 of 9 4 In this order wherever PIT Regulations, 1992 is mentioned it should be referred to as PIT Regulations, 1992 read with Regulation 12 of SEBI (Prohibition of Insider Trading) Regulations, 2015.
In the matter of Parichay Investments Ltd against Krunal Gopaldas Rana Page 4 of 9 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 Krunal/AR had not made any additional
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Source: SecMarx — sebi:EAD-9/SM/124/2018. 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.