sebi:ORDER/BM/RK/2024-25/30281-30284
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Facts / Headnote
Penalty of Rs 4,00,000 each imposed on all four Noticees under Section 15A(b) of SEBI Act for SAST disclosure violations.
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 11C
- s. 28A
Regulations
- Reg. 29(1)
- Reg. 29
- Reg. 29(2)
- Reg. 201
Parties
- Regency Commosale Pvt Ltd
- LN Polyesters Ltd
- Anupam Narain Gupta
- Ambe Securities Private Limited
Holding
Noticee Nos 1 and 2 violated Regulation 29(2) r/w 29(3) and Noticee Nos 3 and 4 violated Regulations 29(1) & 29(2) r/w 29(3) of SAST Regulations by failing to disclose changes in shareholding, and each was penalized Rs 4,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in the matter of Jump Network Limited 2 2. During the course of investigation, it was observed that Regency Commosale Pvt Ltd (“Noticee No1”), LN Polyesters Ltd (Noticee No2) had failed to make disclosures during the IP with respect to change in shareholding falling below 5% and Anupam Narain Gupta (Noticee No3) and Ambe Securities Private Limited (Noticee No4) had failed to make disclosures on several instances during the IP with respect to change in shareholding aggregating more than 5% and falling below 5%. (hereinafter all of them together referred to as the (“Noticees”). Accordingly, the Noticees allegedly failed to comply with the provisions of (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred as “SAST Regulations”).
Adjudication Order in the matter of Jump Network Limited 3 6. The allegations levelled against the Noticees vide the said SCN are summarized below:
Adjudication Order in the matter of Jump Network Limited 4 11. The said SCN was served on the Noticees via SPAD and also through email. The proof of service is on record. The material available on record shows that barring Noticee Nos 3 and 4, the remaining Noticees have not submitted their replies to the SCN till date.
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Source: SecMarx — sebi:ORDER/BM/RK/2024-25/30281-30284. 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.