sebi:MC/ST/2021-22/12800-12802
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Facts / Headnote
Violations of Section 13, 16, 18 of SC(R)A read with SEBI Notifications established against all three Noticees; monetary penalty imposed (Noticee-3: Rs. 1,00,000)
Provisions invoked
- s. 13
- s. 16
- s. 15J
- s. 15
- s. 23J
- s. 18
- s. 23
- s. 23H
- s. 29A
- s. 28
- s. 9(1)
- s. 25(1)
Regulations
- Reg. 13
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29(3)
Parties
- Noticee-1
- Noticee-2
- Noticee-3 (Ms. Vishakha Gupta)
Holding
The Adjudicating Officer held that Noticee-1, 2 and 3 violated Section 13, 16, 18 of SC(R)A read with SEBI Notifications G.S.R. 219(E) dated March 2, 2000 and LAD-NRO/GN/2013-14/26/6667 dated October 3, 2013, by failing to settle off-market spot delivery contracts within the time stipulated under Section 2(i)(a) of SC(R)A, and are liable for monetary penalty under Section 23H of SC(R)A.
Full text
Adjudication Order in respect of three entities in the matter of M/s. Delta Leasing & Finance Ltd. Page 2 of 30 SEBI Notification G.S.R. 219(E) dated March 2, 2000 and SEBI Notification No. LAD-NRO/GN/2013-14/26/6667 dated October 3, 2013.
Adjudication Order in respect of three entities in the matter of M/s. Delta Leasing & Finance Ltd. Page 3 of 30 5. An investigation was conducted into the trading activities of in the scrip of DLFL from January 1, 2013 to December 31, 2014. Examination of off market data obtained from the Depositories revealed that promoter entities had transferred substantial quantity of shares to several entities during the investigation period. The off market transfers of the promoter entities include both shares received by them and delivery made to others by them. The following are the summary of promoter wise quantum of off market transfers carried out by them:
Adjudication Order in respect of three entities in the matter of M/s. Delta Leasing & Finance Ltd. Page 4 of 30 Owner (Transferor or Source Client) to the account of another beneficial owner (Transferee or the Target Client) through Delivery Instruction Slips (DIS).
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Source: SecMarx — sebi:MC/ST/2021-22/12800-12802. 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.