sebi:ISD/PMTL-JPS/AO/DRK-AKS/EAD3-721/46-2015
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed on noticee
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(1)
- Reg. 29(1)
- Reg. 29
- Reg. 201
Parties
- Shri Jipal Pineshkumar Shah
Holding
The noticee violated Regulation 29(1) of SAST Regulations, 2011 and Regulation 13(1) of PIT Regulations, 1992 by failing to disclose when his shareholding in PMTL crossed 5% on 06.02.2012, and a penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 9 APPOINTMENT OF ADJUDICATING OFFICER 2. I was appointed as Adjudicating Officer under Section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‗SEBI Act‘), read with Rule 3 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‗Adjudication Rules‘) to inquire into and adjudge under Section 15A (b) of the SEBI Act the violation of Regulation 29(1) of SAST Regulations and Regulation 13(1) 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 9 06-02-2012 Acq 5,02,421 26,500 5,28,921 5.25 06-02-2012 Acq 5,28,921 11,020 5,39,941 5.36 07-02-2012 Acq 5,39,941 25,000 5,64,941 5.61 13-02-2012 Sale 5,64,941 (-) 39,000 5,25,941 5.22 15-02-2012 Acq 5,25,941 23,266 5,49,207 5.45 13-03-2012 Acq 5,49,207 17,500 5,66,707 5.62 14-03-2012 Sale 5,66,707 (-) 12,000 5,54,707 5.51 19-03-2012 Sale 5,54,707 (-) 7,600 5,47,107 5.43 20-03-2012 Sale 5,47,107 (-) 5,000 5,42,107 5.38 20-03-2012 Sale 5,42,107 (-) 9,090 5,33,017 5.29 28-03-2012 Acq 5,33,017 28,316 5,61,333 5.57 29-03-2012 Acq 5,61,333 50,000 6,11,333 6.07
Page 4 of 9 8. As requested by the noticee vide hearing notice dated 08.08.2014 the noticee was granted an opportunity of hearing on 26.08.2014 at 03:15 pm at SEBI Bhavan, Mumbai.
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Source: SecMarx — sebi:ISD/PMTL-JPS/AO/DRK-AKS/EAD3-721/46-2015. 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.