sebi:EAD-9/SM/71/2018
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Facts / Headnote
Penalty of Rs. 4,00,000 imposed on Nilesh for disclosure violations
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. 15A(b)
- Reg. 12(2)
Parties
- Nilesh R Pandya
Holding
Nilesh 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 and is liable for monetary penalty under Section 15A(b) of the SEBI Act, 1992. A penalty of Rs. 4,00,000 was imposed on Nilesh.
Full text
In the matter of Saianand Commercial Ltd (Erstwhile Oregon Commercial Ltd) Page 2 of 10 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 10 violated Regulation 13(3) read with Regulation 13(5) of PIT Regulation, 1992 read with Regulation 12(2) of PIT Regulation, 2015 on the following occasions.
In the matter of Saianand Commercial Ltd (Erstwhile Oregon Commercial Ltd) Page 4 of 10 10. In this order wherever SAST Regulations, 1997 is mentioned it should be referred to as SAST Regulations, 1997 read with Regulation 35 of SEBI (Acquisition of Shares and Takeovers) Regulations, 2011.
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Source: SecMarx — sebi:EAD-9/SM/71/2018. 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.