sebi:MC/CB/2018-19/54
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Facts / Headnote
Violation established; penalty of Rs. 2,00,000 imposed
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
Regulations
- Reg. 13
- Reg. 31
- Reg. 29(2)
Parties
- Ms. Anita Mansukhani
Holding
The Noticee, a promoter of Man Industries (India) Limited, violated Regulation 13(4A) read with 13(5) of the PIT Regulations by failing to disclose changes in her shareholding, and a monetary penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act was imposed upon her.
Full text
Adjudication Order in the matter of Man Industries (India) Limited Page 2 of 12 15A (b) of the SEBI Act against the Noticee for the alleged violation of Regulation 13(4A) read with 13(5) of the PIT Regulations. Subsequently, the undersigned was appointed as the Adjudicating Officer on April 26, 2018 which was communicated vide
Adjudication Order in the matter of Man Industries (India) Limited Page 3 of 12 Noticee, allegedly, failed to submit disclosure required under the PIT Regulations. c) The aforementioned failure of the Noticee to disclose change in her shareholding was confirmed by the NSE vide e-mail dated July 17, 2018, BSE vide e-mail dated July 11, 2018 and the Company vide e-mail July 18, 2018. d) It was alleged that the aforesaid non-disclosure regarding change in her shareholding by the Noticee was in violation of Regulation 13(4A) read with 13(5) of the PIT Regulations, text of which is mentioned as below: SEBI (Prohibition of Insider Trading) Regulations, 1992 13. …. (4A) Any person who is a promoter or part of promoter group of a listed company, shall disclose to the company and the stock exchange where the securities are listed in Form D, the total number of shares or voting rights held and change in shareholding or voting rights, if there has been a change in such holdings of such person from the last disclosure made under Listing Agreement or under sub-regulation (2A) or under this sub regulation, and the change exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding of voting rights, whichever is lower. (5) The disclosure mention in sub-regulations (3), (4) and (4A) shall be made within two working days of:
Adjudication Order in the matter of Man Industries (India) Limited Page 4 of 12 6. After considering the facts and circumstances of the case, the undersigned granted an opportunity of personal hearing to the Noticee on November 26, 2018 vide Notice of Hearing dated November 12, 2018. The Noticee was also advised to file her reply, if any, towards the SCN by November 23, 2018. Thereafter, the Noticee vide letter dated November 12, 2018 requested for an extension for three weeks to file her reply.
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Source: SecMarx — sebi:MC/CB/2018-19/54. 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.