sebi:EAD-9/SM/3475/34/2019-20
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Facts / Headnote
Violation found; penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
- s. 21
- s. 23J
- s. 23
- s. 23H
Regulations
- Reg. 13
- Reg. 2(1)
- Reg. 13(3)
- Reg. 5
- Reg. 13(6)
- Reg. 13(5)
Parties
- M/s Superior Industrial Enterprises Ltd
Holding
The Noticee violated Regulation 13(6) of PIT Regulations and Clause 35(1)(a) and (b) of Listing Agreement read with Section 21 of SCRA. A penalty of Rs. 3,00,000 under Section 15A(b) of SEBI Act and Rs. 2,00,000 under Section 23H of SCRA was imposed.
Full text
In the matter of M/s Superior Industrial Enterprises Ltd Page 2 of 9 Show Cause Notice, Reply and Personal Hearing: 4. Based on the findings by SEBI, Show Cause Notice dated February 15, 2019 (hereinafter referred to as ‘SCN”) was served on Noticee in terms of Rule 4 of AO Rules read with Section 15 (I) of SEBI Act, calling upon the Noticee to show cause as to why an inquiry should not be held against it and penalty should be not imposed under Section 15A(b) of SEBI Act, 1992 and under Section 23H of SCRA on Noticee for the alleged provisions of law. SCN was duly delivered.
In the matter of M/s Superior Industrial Enterprises Ltd Page 3 of 9 Date No of shares held - pre Acquisitio n /disposal % of sharehol ding held - pre Acquisiti on/ disposal No of shares Acquire d/ (dispos ed off) No of shares Acquire d/ (dispose d off) as a % of paid up capital Value of transacti on (Rs.) No of shares held - post Acquisition/dis posal % of shareholdin g held - post Acquisition/ disposal Mode Date of disclosure to company Disclosure by Company to stock exchange u/s 13 (6) 03/07/2014 7,75,000 5.60 17,107 0.12 34,38,507 7,57,893 5.47 on- market 03/07/2014 29/9/2014 (delayed disclosure) 08/07/2014 7,54,893 5.45 13,907 0.10 27,81,400 7,40,986 5.35 on- market 08/07/2014 29/9/2014 (delayed disclosure) 11/07/2014 7,36,036 5.31 16,000 0.12 32,00,000 720036 5.20 on- market 11/07/2014 29/9/2014 (delayed disclosure) 22/08/2014 720036 5.20 30,000 0.22 37,80,000 690036 4.98 on- market 22/08/2014 29/9/2014 (delayed disclosure) 25/08/2014 690036 4.98 21,000 0.15 26,25,000 669036 4.83 on- market 25/08/2014 29/9/2014 (delayed disclosure) HAL Offshore Ltd
In the matter of M/s Superior Industrial Enterprises Ltd Page 4 of 9 h Authorized Representative (hereinafter referred to as “AR”) appeared before the undersigned on the said date. AR made oral submissions and informed that written submission has been forwarded to SEBI.
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Source: SecMarx — sebi:EAD-9/SM/3475/34/2019-20. 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.