sebi:ISD/KBPL-RJ/AO/DRK-DS/EAD3-459/02-2014
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Facts / Headnote
Penalty of Rs. 2,62,500 imposed on Ms. Rashi Jain
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(5)
Parties
- Ms. Rashi Jain
Holding
Ms. Rashi Jain failed to comply with Regulation 13(4A) read with Regulation 13(5) of the PIT Regulations with respect to receipt of 4,50,000 shares and a penalty of Rs. 2,62,500 under Section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 6 SHOW CAUSE NOTICE, HEARING AND REPLY 3. A Show Cause Notice no. A&E/EAD-3/DRK/DS/18042/2013 dated July 23, 2013 (hereinafter referred to as 'SCN') was served on the noticee in terms of the provisions of Rule 4 of the Rules, requiring the noticee to show cause as to why an inquiry should not be held against the noticee and why penalty, if any, should not be imposed on her under Section 15A(b) of the SEBI Act for the alleged violation of the provisions of Regulation 13(4A) read with Regulation 13(5) of the PIT Regulations.
Page 3 of 6 appreciated that disclosures prior in time and post in time to alleged non- disclosure of 4,50,000 shares have been duly made. c. The act of non-disclosure on one particular instance has neither led to wrongful gains for us nor have the investors suffered any loss on account of said omission. It was merely a technical lapse.
Page 4 of 6 noticee to do so. Thus, the submission of the noticee that the hearing granted to the noticee was attended by her authorised representative is not true.
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Source: SecMarx — sebi:ISD/KBPL-RJ/AO/DRK-DS/EAD3-459/02-2014. 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.