sebi:MC/CB/2018-19/62

SEBI · SEBI · 2016-08-08 · Maninder Cheema, Adjudicating Officer

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Facts / Headnote

Penalty of Rs. 1,00,000 imposed under Section 15A(b) of the SEBI Act for violation of PIT and SAST disclosure provisions

Provisions invoked

• s. 15A
• s. 15I
• s. 15J
• s. 15

Regulations

• Reg. 13
• Reg. 13(1)
• Reg. 13(3)
• Reg. 29(1)
• Reg. 29(2)

Parties

• Gannayak Sales Private Limited

Holding

The Noticee violated Regulations 13(1) & 13(3) read with 13(5) of the PIT Regulations and Regulation 29(1) & 29(2) read with 29(3) of the SAST Regulations, and a penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act was imposed upon Gannayak Sales Private Limited.

Full text

Adjudication Order in the matter of Man Industries (India) Limited Page 2 of 14 Rules”) vide order dated August 08, 2016 to inquire into and adjudge under Section 15A (b) of the SEBI Act against the Noticee for the aforesaid alleged violations. Subsequently, 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 Man Industries (India) Limited Page 3 of 14 December 13, 2013 48000 486000 7.95 December 23, 2013 30000 516000 8.44 December 24, 2013 30000 546000 8.93 December 31, 2013 30000 576000 9.42 January 01, 2014 24000 600000 9.41 January 02, 2014 24000 624000 9.78 January 03, 2014 24000 648000 10.16

Adjudication Order in the matter of Man Industries (India) Limited Page 4 of 14 29(1), 29(2) read with 29(3) of the SAST Regulations, text of which is mentioned as below: SEBI (Prohibition of Insider Trading) Regulations, 1992 13. (1) any person who holds more than 5% shares or voting rights in any listed company shall disclose to the company in Form A, 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. … (3) Any person who holds more than 5% shares for voting rights in any listed company shall disclose to the company 49[in Form C] the number of shares or voting rights held and change in shareholding or voting rights, even if such change results in shareholding falling below 5%, if there has been change in such holdings from the last disclosure made under sub-regulation (1) or under this sub-regulation; and such change exceeds 2% of total shareholding or voting rights in the company. (5) The disclosure mention in sub-regulations (3), (4) and (4A) shall be made within two working days of: (a) the receipts of intimation of allotment of shares, or (b) the acquisition or sale of shares or voting rights ,as the case may be. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 “29. (1) Any acquirer who acquires shares or voting rights in a target company which taken together with

Source: SecMarx — sebi:MC/CB/2018-19/62. 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.