sebi:MC/CB/1/2018
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Facts / Headnote
Penalty imposed on Noticee
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
Regulations
- Reg. 13(1)
- Reg. 29(1)
- Reg. 7(1)
Parties
- M/s Dadimaa Capitals (P) Ltd.
Holding
The Noticee failed to make mandated disclosures under Regulation 13(1) of the PIT Regulations to the Company and under Regulation 29(1) read with 29(3) of the SAST Regulations to the BSE, and a penalty of Rs. 1,00,000 was imposed under Section 15A(b) of the SEBI Act, treating the two violations as a single violation.
Full text
Adjudication Order in the matter of Sunbright Stock Broking Limited Page 2 of 10 provisions of PIT Regulations and SAST Regulations. Subsequent to superannuation of Mr. Suresh Gupta, the undersigned was appointed as the Adjudicating Officer on May 29, 2018 which was communicated vide order dated June 19, 2018.
Adjudication Order in the matter of Sunbright Stock Broking Limited Page 3 of 10 the number of shares or voting rights held by such person, on becoming such holder, within 2 working days of :— (a) the receipt of intimation of allotment of shares; or (b) the acquisition of shares or voting rights, as the case may be.
Adjudication Order in the matter of Sunbright Stock Broking Limited Page 4 of 10 7. After considering the facts and circumstances of the case, the erstwhile Adjudicating Officer granted an opportunity of personal hearing to the Noticee on January 25, 2018 vide Notice of Hearing dated January 08, 2018. The aforesaid Notice of Hearing dated January 08, 2018 was served upon the Noticee by way of SPAD at the address of the Noticee on January 12, 2018 and delivery proof of which is available on record. Vide the aforesaid Notice of Hearing, the Noticee was also advised to submit its reply towards the SCN by January 22, 2018. It was also clearly mentioned in the aforesaid Notice of Hearing that in case the Noticee fails to attend the hearing, the matter shall be proceeded on the basis of material available on record. However, no appearance was made by the Noticee on the aforesaid date of hearing.
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Source: SecMarx — sebi:MC/CB/1/2018. 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.