sebi:NR/AC/2018-19/572
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Facts / Headnote
Penalty imposed on Noticee for violations of Takeover Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
Regulations
- Reg. 6
- Reg. 8
- Reg. 8(3)
- Reg. 6(2)
- Reg. 8(1)
Parties
- M/s Bakshi Securities Limited
Holding
The Noticee violated Regulation 6(2) and 6(4) of the Takeover Regulations on one occasion each and Regulation 8(3) on 14 consecutive occasions for the period from 1998 to 2011, and a penalty of Rs. 2,00,000/- was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
Page | 2 Sr. No. Regulations Due Date for compliance Actual date of Compliance Delays (in days) on LSE LSE DSE 1. 6(2) 30.05.1997 31.03.2003 Not Complied 2,131 2. 6(4) 30.05.1997 31.03.2003 Not Complied 2,131 3. 8(3) 30.04.1998 31.03.2003 Not Complied 1,796 4. 8(3) 30.04.1999 31.03.2003 Not Complied 1,431 5. 8(3) 30.04.2000 31.03.2003 Not Complied 1,065 6. 8(3) 30.04.2001 31.03.2003 Not Complied 700 7. 8(3) 30.04.2002 31.03.2003 Not Complied 335 8. 8(3) 30.04.2003 26.05.2014 Not Complied 4,044 9. 8(3) 30.04.2004 26.05.2014 Not Complied 3,678 10. 8(3) 30.04.2005 26.05.2014 Not Complied 3,313 11. 8(3) 30.04.2006 26.05.2014 Not Complied 2,948 12. 8(3) 30.04.2007 26.05.2014 Not Complied 2,583 13. 8(3) 30.04.2008 26.05.2014 Not Complied 2,217 14. 8(3) 30.04.2009 26.05.2014 Not Complied 1,852 15. 8(3) 30.04.2010 26.05.2014 Not Complied 1,487 16. 8(3) 30.04.2011 26.05.2014 Not Complied 1,122
Page | 3 show cause as to why an inquiry should not be held against it and why penalty, if any, should not be imposed for the alleged violation as specified in the SCN.
Page | 4 (Substantial Acquisition of Shares and Takeovers) Regulation, 1997 on 14 consecutive occasions for the period from 1998 to 2011.
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Source: SecMarx — sebi:NR/AC/2018-19/572. 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.