sebi:IVD-ID2/VOL/AO/DRK/AKS/EAD3-261/27/2011
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Facts / Headnote
Consolidated penalty of Rs 12,00,000 imposed for violations of Section 11C(3) and Regulations 7 and 10; no violation of Section 11C(5)
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 11C
- s. 11C(3)
Regulations
- Reg. 7
- Reg. 10
Parties
- Smt. Shilpa Dave
Holding
Smt. Shilpa Dave was held to have violated Section 11C(3) of the SEBI Act and Regulations 7 and 10 of the Takeover Regulations and a consolidated penalty of Rs 12,00,000 was imposed; violation of Section 11C(5) was not established.
Full text
Page 2 of 12 • ` 2.50 on application and ` 7.50 towards share premium, and • ` 7.50 on allotment and ` 22.50 towards share premium.
Page 3 of 12 (hereinafter referred to as Philoden). Shri Dilip Thakkar and his wife are the Directors of Philoden. Philoden received the money in its account from the bank accounts of Jyoti, Shilpa and Varsha. The funds paid to Shri Ketan Shah and family was traced back to account of VOL. APPOINTMENT OF ADJUDICATING OFFICER
Page 4 of 12 dated 7/10/2010 furnished the address to NSDL which in turn was forwarded to SEBI. The aforesaid SCN was served on the noticee vide letter dated 12.11.2010 by RPAD at the new address.
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Source: SecMarx — sebi:IVD-ID2/VOL/AO/DRK/AKS/EAD3-261/27/2011. 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.