sebi:ISD/IL/ICPL/AO/DRK-AKS/EAD3-707/32-2015
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Facts / Headnote
Adjudication proceedings disposed of; no violation established
Provisions invoked
- s. 15
Regulations
- Reg. 13
- Reg. 29
Parties
- Indianivesh Commodities Private Limited
Holding
The alleged violations of Regulations 13(1) & 13(3) of the PIT Regulations and Regulations 29(1), (2) & (3) of the SAST Regulations are difficult to establish against Indianivesh Commodities Private Limited, and the adjudication proceedings are disposed of.
Full text
Page 2 of 9 SHOW CAUSE NOTICE, REPLY AND HEARING 3. Show Cause Notice No. EAD-3/DRK/JP/20836/2013 dated August 21, 2013 (herein after referred to as 'SCN') was served upon the Noticee through Registered Post Acknowledgement Due under Rule 4 (1) of the Adjudication Rules, to show cause as to why an inquiry be not held against it and penalty be not imposed under Section 15 A (b) of the SEBI Act for the alleged violations of Regulations 13 (1) & 13 (3) of the PIT Regulations and Regulations 29 (1), (2) & (3) of the SAST Regulations. The allegations leveled against the Noticee in the SCN are as under:
Page 3 of 9 even if such change results in shareholding falling below 5%, if there has been change in such holdings from the last disclosure made under sub- regulation (1) or under this sub-regulation; and such change exceeds 2% of total shareholding or voting rights in the company.
Page 4 of 9 reasons' for transfer of shares in Noticee's Account from the clients involved in the present proceedings and also from other clients, the Circulars of Exchanges / SEBI on the issue of transfer of dividends within a period of 90 days, proof that BSE and NSE has approved the shares of Indianivesh Ltd. for the purpose of keeping them as margin requirement. During the hearing, authorized representative assured to submit all aforesaid documents within a week along with additional reply briefing the points in respect of each annexures / documents which were enclosed with its reply.
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Source: SecMarx — sebi:ISD/IL/ICPL/AO/DRK-AKS/EAD3-707/32-2015. 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.