sebi:ISD/TEL-RSCL/AO/DRK-DS/EAD3-664/210-2014
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Facts / Headnote
Violation not established; adjudication proceeding disposed of
Provisions invoked
- s. 15A
Regulations
- Reg. 13(3)
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29(3)
Parties
- Rudra Securities & Capital Limited
Holding
The alleged violation of Regulation 29(2) read with Regulation 29(3) of the Takeover Regulations and Regulation 13(3) read with Regulation 13(5) of the PIT Regulations does not stand established against Rudra Securities & Capital Limited and the adjudication proceeding is disposed of.
Full text
Page 2 of 5 the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as "PIT Regulations") alleged to have been committed by Rudra Securities & Capital Limited (hereinafter referred to as “Noticee/RSCL”). The said appointment was communicated vide proceedings of the Whole Time Member appointing Adjudicating Officer dated February 03, 2014.
Page 3 of 5 7. Further as per Regulation 13(3) read with Regulation 13(5) of the PIT Regulations, the noticee was required to make disclosure with respect to the said sale of shares to the company in Form C within 2 working days of the disposal of said shares.
Page 4 of 5 a. The AR has reiterated the submissions made vide reply dated April 14, 2014. b. The AR has undertaken to submit the date-wise details of sale of shares by the noticee and proof of submission of disclosures to the company.
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Source: SecMarx — sebi:ISD/TEL-RSCL/AO/DRK-DS/EAD3-664/210-2014. 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.