sebi:MAA/AO/DL/6-7/2015-16
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
Regulations
- Reg. 13
- Reg. 3
- Reg. 199
- Reg. 29
- Reg. 201
Parties
- Mr. Bhushan Kumar Narula (Noticee No. 01)
- Ms. Sidhi Narula (Noticee No. 02)
Holding
The Adjudicating Officer held that the allegations against Noticee No. 1 (Mr. Bhushan Kumar Narula) of violating Regulation 13(3), (4), (4A) read with 13(5) of PIT Regulations and against Noticee No. 2 (Ms. Sidhi Narula) of violating Regulation 29(2) read with 29(3) of SAST Regulations, 2011 as well as Regulation 13(3), (4), (4A) read with 13(5) of PIT Regulations were not established, and therefore the Noticees were not liable for monetary penalty under Section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication Order with respect to the promoters of M/s Silver Smith India Ltd. October 21 2015 Page 2 of 14 Shares and Takeovers) Regulations, 2011 (hereinafter referred to as ‘SAST Regulations, 2011') and/ or SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as ‘PIT Regulations’), as applicable.
Adjudication Order with respect to the promoters of M/s Silver Smith India Ltd. October 21 2015 Page 3 of 14 Subsequently, the case has been transferred to SEBI, Northern Regional Office, New Delhi and the undersigned has been appointed as Adjudicating Officer vide order dated December 09, 2014.
Adjudication Order with respect to the promoters of M/s Silver Smith India Ltd. October 21 2015 Page 4 of 14 Copy of the letter and intimation sent to BSE, regarding transfer of shares dated October 06, 2012 October 10, 2012 and December 08, 2012, were also submitted.
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Source: SecMarx — sebi:MAA/AO/DL/6-7/2015-16. 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.