sebi:IVD-ID7/DEL/AO/DRK/SS/EAD3-91/2009
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Facts / Headnote
Penalty imposed on the noticee for failure to disclose change in shareholding
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 24
Regulations
- Reg. 13(2)
- Reg. 13
- Reg. 11
- Reg. 14
- Reg. 13(6)
Parties
- Divine Entertainment Limited (formerly known as Denim Enterprises Ltd.)
Holding
The noticee, Divine Entertainment Limited, was held to have violated Regulation 13(6) read with Regulations 13(2) and 13(4) of the Insider Trading Regulations by failing to disclose the change in shareholding of its Managing Director Aushim Khetrapal (which crossed 10% of paid-up capital) to the stock exchanges within five days of receipt of information. A penalty of Rs. 9,00,000 was imposed under Section 15A(b) of the SEBI Act read with Regulation 14 of the Insider Trading Regulations.
Full text
Page 2 of 9 2002 to October 28, 2002. There were no corporate news/announcements relating to the Company during the investigation period.
Page 3 of 9 India (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as the ‘Insider Trading Regulations’).
Page 4 of 9 9. It was alleged that the noticee had failed to comply with the disclosure norms as per the Insider Trading Regulations.
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Source: SecMarx — sebi:IVD-ID7/DEL/AO/DRK/SS/EAD3-91/2009. 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.