sebi:ORDER/NH/RJ/2023-24/28490
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Facts / Headnote
Violation established; total penalty of Rs. 9,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
Regulations
- Reg. 29(1)
- Reg. 29
- Reg. 23
- Reg. 29(2)
- Reg. 29(3)
Parties
- Mr. Tejas Harshadbhai Patel
Holding
The Noticee violated Regulations 29(1) and 29(2) read with Regulation 29(3) of the Takeover Regulations by failing to disclose the acquisition breaching 5% and subsequent disposal exceeding 2% in A & M Febcon Limited, and is liable to monetary penalty under Section 15A(b) of the SEBI Act totalling Rs. 9,00,000.
Full text
Adjudication Order in respect of Mr. Tejas Harshadbhai Patel in the matter of A & M Febcon Limited Page 2 of 18 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Mr. Tejas Harshadbhai Patel in the matter of A & M Febcon Limited Page 3 of 18 company to 3.12% by executing sale transactions. The details of said transactions executed by Noticee are provided in the table below: Sr. No. Date of transaction Type of transaction (Sale/Buy) Pre transaction shareholding % of total share (Pre) Total Number of shares of the company Post transaction shareholding % of total share (Post) Change
Adjudication Order in respect of Mr. Tejas Harshadbhai Patel in the matter of A & M Febcon Limited Page 4 of 18 consignment tracking on India Post. The said details have been certified by the In- Charge, Matunga BPC
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Source: SecMarx — sebi:ORDER/NH/RJ/2023-24/28490. 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.