sebi:EAD-9/SM/3594-3595/39-40/2019-20
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Facts / Headnote
Penalty of Rs. 1,00,000 each imposed on Noticee No. 1 and Noticee No. 2
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 13
- Reg. 13(5)
- Reg. 12
Parties
- Sanjeev Agrawal
- Deepti Agrawal
Holding
Noticee No. 1 and Noticee No. 2, promoters of SIEL, violated Regulation 13(4A) read with Regulation 13(5) of PIT Regulations by delayed and non-disclosure to the stock exchange and are liable to monetary penalty under Section 15A(b) of SEBI Act.
Full text
In the matter of Superior Industrial Enterprises Ltd Page 2 of 7 Allegations in the SCN: 5. BSE vide letter dated August 10, 2016 provided the details received in respect to the disclosure filed by Noticee(s) No. 1 and 2 under Regulation 13 (4A) read with Regulation 13(5) of PIT Regulation. Table No. 1
In the matter of Superior Industrial Enterprises Ltd Page 3 of 7 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/di sposal % of shareholding held - post Acquisition/di sposal Date of disclosure to stock exchange Violation of Regulation(s) under PIT 08/07/2014 7,54,893 5.45 13,907 0.10 27,81,400 7,40,986 5.35 29/9/2014 (delayed disclosure) Reg.13(4A) r/w Reg. 13(5) of PIT, 1992 10/07/2014 7,40,986 5.35 4,950 0.04 9,99,900 7,36,036 5.31 Non disclosure Reg.13(4A) r/w Reg. 13(5) of PIT, 1992 11/07/2014 7,36,036 5.31 16,000 0.12 32,00,000 720036 5.20 29/9/2014 (delayed disclosure) Reg.13(4A) r/w Reg. 13(5) of PIT, 1992 22/08/2014 720036 5.20 30,000 0.22 37,80,000 690036 4.98 29/9/2014 (delayed disclosure) Reg.13(4A) r/w Reg. 13(5) of PIT, 1992 25/08/2014
In the matter of Superior Industrial Enterprises Ltd Page 4 of 7 ISSUES FOR CONSIDERATION and FINDINGS: Issue I: Whether the Regulation 13 (4A) read with Regulation 13(5) of PIT Regulations Noticee(s) No. 1 and 2; Issue II Does the violation, if any, attract monetary penalty under Section 15A(b) of SEBI Act on Noticee; Issue III If so, what should be the quantum of monetary penalty?
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Source: SecMarx — sebi:EAD-9/SM/3594-3595/39-40/2019-20. 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.