sebi:JJ/AM/AO-174-176/2014
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Facts / Headnote
Penalty imposed on all three Noticees for violation of Regulation 7(1A) read with 7(2) of SAST Regulations, 1997 read with Regulation 35 of SAST Regulations, 2011
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 199
- Reg. 35
- Reg. 11
Parties
- Kokilaben Patel
- Sushila Purushottambhai Patel
- Purushottambhai Tulsidas Patel
Holding
The Noticees violated Regulation 7(1A) read with 7(2) of SAST Regulations, 1997 by failing to disclose share sales aggregating more than two per cent of the share capital within two days of the transaction, and are liable for monetary penalty under Section 15A(b) of the SEBI Act, 1992. A penalty of Rs. 3,00,000/- was imposed on each of the three Noticees.
Full text
Adjudication Order in respect of Kokilaben Patel, Sushila Purushottambhai Patel and Purushottambhai Tulsidas Patel in the matter of Shree Surgovind Tradelink Limited Page 2 of 8 December 31, 2014 By Promoter Group: Name of the acquirer Regulation Due date for compliance Actual date of compliance Delay (in no of days) Kokilaben Patel 7(1A)/7(2) 18.01.2009 08.06.2012 1237 Sushila Purushottambhai Patel 7(1A)/7(2) 21.03.2009 08.06.2012 1175 Purushottambhai Tulsidas Patel 7(1A)/7(2) 02.08.2009 08.06.2012 1041
Adjudication Order in respect of Kokilaben Patel, Sushila Purushottambhai Patel and Purushottambhai Tulsidas Patel in the matter of Shree Surgovind Tradelink Limited Page 3 of 8 December 31, 2014 2014, opportunity of personal hearing was granted to the Noticees on August 07, 2014. The said Hearing Notices were duly delivered to Sushilaben and Purushottambhai by way of affixture. However, the Hearing Notice issued to Kokilaben returned undelivered.
Adjudication Order in respect of Kokilaben Patel, Sushila Purushottambhai Patel and Purushottambhai Tulsidas Patel in the matter of Shree Surgovind Tradelink Limited Page 4 of 8 December 31, 2014 We regret that we won’t be able to attend the hearing as we are not medically fit and so we leave all the decision for you. But you kindly go through our request and take appropriate Action.
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Source: SecMarx — sebi:JJ/AM/AO-174-176/2014. 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.