sebi:IVD/ITDL-ITDL/AO/DRK/ASG/EAD/265/31-2011
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Facts / Headnote
Violations of Regulation 13(6) and Sections 11C(2), 11C(3) found; consolidated penalty of Rs. 1,25,000 imposed; charges under Regulation 7(1A), Section 11C(5) and SCRA dropped
Provisions invoked
- s. 15A
- s. 15
- s. 16
- s. 15J
- s. 11C
- s. 12
- s. 11C(2)
- s. 23
- s. 114
Regulations
- Reg. 7
- Reg. 13
- Reg. 11
- Reg. 13(3)
Parties
- Ind Tra Deco Ltd.
Holding
Ind Tra Deco Ltd. violated Regulation 13(6) of the Insider Trading Regulations and Sections 11C(2) and 11C(3) of the SEBI Act, but did not violate Regulation 7(1A), Section 11C(5) or any SCRA provision, and a consolidated penalty of Rs. 1,25,000 under Sections 15A(a) and 15A(b) was imposed.
Full text
Page 2 of 14 2. SEBI conducted an investigation into the scrip of Ind Tra Deco Ltd. ( hereibnafter referred to as ‘ITDL’) during the period August- September
Page 3 of 14 the Takeover Regulations and had failed to produce the documents sought from it by the IA. 5. A hearing notice dated September 15, 2009 was issued to the noticee by hand Delivery granting it an opportunity of hearing on November 13, 2009. The notice was returned undelivered with the remark ‘Office Shifted’. A hearing notice dated January 20, 2011 granting the noticee an opportunity of hearing on February 08, 2011 was faxed, e-mailed as well as sent by Registered Post Acknowledgment Due to the noticee‘s Registered Office address as well as Administrative Office address. Vide its letters dated February 02, 2011 the noticee informed that it was not in possession of Annexure E1 to E4 and annexure F to K of the SCN and sought copies of the same. Further, the noticee sought an adjournment to the hearing. A final hearing notice dated February 20, 2011 was served on the noticee granting the noticee an opportunity of hearing on March 08, 2011and the copies of the documents which had been sought were forwarded along with the final hearing notice.
Page 4 of 14 c. The list of shareholders produced along with the SCN giving the details of the shareholding pattern as on 22.07.2005 was inadvertently submitted by the company under provisions of Clause 35 of the Listing Agreement. The shareholding pattern mentioned therein was incorrect and no significant change of shareholding had occurred with respect to the company during the investigation period.
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Source: SecMarx — sebi:IVD/ITDL-ITDL/AO/DRK/ASG/EAD/265/31-2011. 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.