sebi:EAD-9/SM/64/2018
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Facts / Headnote
Arif held guilty and penalty of Rs. 2,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
Regulations
- Reg. 199
- Reg. 13(1)
- Reg. 13(3)
- Reg. 7(1)
- Reg. 13(5)
- Reg. 12
- Reg. 201
- Reg. 35
- Reg. 12(2)
Parties
- Arif Gulam Mustufa Shaikh
Holding
Arif Gulam Mustufa Shaikh violated Regulation 7(1) read with 7(2) of SAST Regulations and Regulations 13(1) and 13(3) read with 13(5) of PIT Regulations by failing to make required disclosures and is liable to a monetary penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act, 1992.
Full text
In the matter of Saianand Commercial Ltd (Erstwhile Oregon Commercial Ltd) Page 2 of 9 5. Similarly, in terms of Regulation 13(1) of PIT Regulations any person who holds more than 5% shares or voting rights in any listed company shall disclose to the company in Form A, the number of shares or voting rights held by such person, on becoming such holder, within 2 working days of (a) the receipt of intimation of allotment of shares; or (b) the acquisition of shares or voting rights, as the case may be.
In the matter of Saianand Commercial Ltd (Erstwhile Oregon Commercial Ltd) Page 3 of 9 9. 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 Saianand Commercial Ltd (Erstwhile Oregon Commercial Ltd) Page 4 of 9 Rule 7(4) of AO rules the details of SCN and hearing notice were published in Ahmedabad Editions of Times of India and Gujarat Samachar on January 30,2018 and through the said publication one more opportunity of personal hearing was granted on February 21, 2018, however, Arif did not appear before me on the said date also.
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Source: SecMarx — sebi:EAD-9/SM/64/2018. 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.