sebi:ISD/PMTL-DS/AO/DRK-AKS/EAD3-720/45-2015
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Facts / Headnote
Violation of Regulation 13(4A) held established; penalty of Rs. 2,00,000 imposed under Section 15A(b)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 8(3)
- Reg. 8(2)
- Reg. 12
Parties
- Shri Dipin Surana
Holding
Shri Dipin Surana, promoter of P.M. Telelinks Ltd., failed to make disclosures under Regulation 13(4A) of PIT Regulations for sales on 01.08.2012 and 02.08.2012, and a penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 7 adjudge under Section 15A (b) of the SEBI Act the violation of Regulation 13 (4A) of PIT Regulations alleged to have been committed by the noticee and the same was communicated vide proceedings of the Whole Time Member appointing Adjudicating Officer dated July 2, 2013.
Page 3 of 7 The company has forwarded a letter dated July 19, 2012 to BSE Ltd. (hereinafter referred to as 'BSE') through email of even date wherein inter alia it was brought to the kind notice of BSE that Promoters intend to sell a part of their holding and with the result the Promoter‟s holding would come down to 41.44% from 49.75%. A revised shareholding pattern, after the proposed sale, was also enclosed with the said letter. PMTL has forwarded such a letter to BSE only after the noticee intimated his intention to sell some of the shares held by him. The other Promoters would have also done the same. Noticee submits that company has forwarded the above letter only after Promoters have given intimation to PMTL.
Page 4 of 7 securities in the specified format or under specific regulation would not have any effect on the market price of the scrip.
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Source: SecMarx — sebi:ISD/PMTL-DS/AO/DRK-AKS/EAD3-720/45-2015. 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.