sebi:MC/ST/2020-21/11169-11170
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
Regulations
- Reg. 7(1)
- Reg. 13(1)
- Reg. 29(1)
- Reg. 1
- Reg. 29(2)
- Reg. 29(3)
- Reg. 11(2)
- Reg. 29(I)
Parties
- Silvertoss Shoppers Private Limited
- Kamlesh Shantilalji Jain
Holding
Noticee-1 violated Regulation 29(1), 29(2) read with 29(3) of SAST Regulations on three occasions and Noticee-2 violated Regulation 29(1) read with 29(3) on one occasion. Penalty of Rs.3,00,000 on Noticee-1 and Rs.1,00,000 on Noticee-2 was imposed under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 20 the scrip of B C Power Controls Ltd. (hereinafter referred to as “B C Power/ the Company”), a company listed on both BSE and NSE.
Page 3 of 20 Table 1: Transaction details of Silvertoss Shoppers Private Limited (“Noticee- 1”) Transaction date Pre- Transaction shareholding % Post transaction shareholding % Change in shareholding % Disclosure Req. Under SAST 2011 Disclosure Submitted Under SAST 2011 29/08/2019 0 4.31 4.31 No NA 30/08/2019 4.31 5.39 1.08 Yes, under Regulation 29(1) Not found 03/09/2019 5.39 6.57 1.18 No NA 04/09/2019 6.57 8.27 1.70 Yes, under Regulation 29(2) Not found 05/09/2019 8.27 9.97 1.70 No NA 06/09/2019 9.97 11.67 1.70 Yes, under Regulation 29(2) Not found 09/09/2019 11.67 13.37 1.70 No NA 12/09/2019 13.37 12.91 -0.46 No NA 13/09/2019 12.91 13.12 0.21 No NA
Page 4 of 20 iii. The aforesaid transactions of Noticee-1 and Noticee-2 triggered the disclosure requirement under SAST Regulations. BSE, vide its letter dated December 18, 2019 and BC Power vide, its email dated December 27, 2019 confirmed that no disclosures were received under SAST Regulations in the scrip of BC Power from Noticee-1 and Noticee-2.
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Source: SecMarx — sebi:MC/ST/2020-21/11169-11170. 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.