sebi:IVD/KIL/AO/DRK/AS/EAD-3/220/2009-124/2010
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Facts / Headnote
Proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 3
Parties
- Shri O.P. Agrawal
Holding
The violation of Regulations 3(a) and 4(2)(r) of the PFUTP Regulations is not established against Shri O.P. Agrawal, and no penalty is warranted under Section 15 HA of the SEBI Act, 1992.
Full text
Page 2 of 13 Yearly: (In ` Lakhs) SI No Particular April 01, 2003 to March 31, 2004. April 01, 2004 to March 31, 2005. April 01, 2005 to March 31,
Page 3 of 13 and reached a high of ` 42.85 on September 14, 2005 and finally closed at ` 25.95 on March 31, 2006. It was noted from the findings of the Investigation Report that on March 04, 2005 KIL had informed Bombay Stock Exchange Limited (hereinafter referred to as ‘BSE’) that the meeting of the Board of Directors of the Company is scheduled to be held on March 11, 2005, wherein they will consider various ways and means for expansion of the company, various plans for the acquisition and any other related matter for the growth of the company, issue of rights / preferential allotment and or any other instruments of the company and increase the authorized share capital of the company. As a result of these announcements, the price of the scrip started moving upward
Page 4 of 13 made by KIL on March 15, 2005 but the covering letter of the valuation report of ISPL bears the date of August 13, 2005. It was alleged that the announcements made by KIL on March 15, 2005 regarding acquisition of ISPL was premature.
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Source: SecMarx — sebi:IVD/KIL/AO/DRK/AS/EAD-3/220/2009-124/2010. 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.