sebi:ORDER/SBM/VS/2021-22/15658-15665
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Facts / Headnote
Violation of Regulations 3(1) read with 13(1) and 13(2)(a) of SAST Regulations, 2011 held established; monetary penalty of Rs 10,00,000 imposed jointly and severally under Section 15H(ii) of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 4
- Reg. 13
- Reg. 3
- Reg. 15
- Reg. 13(1)
- Reg. 29
- Reg. 2(1)(b)
- Reg. 2
- Reg. 29(2)
- Reg. 3(1)
- Reg. 14
- Reg. 13(2)(a)
Parties
- Ardent Impex Pvt Ltd
- Orpheus Trading Pvt Ltd
- Harshita Jain and Mansukhlal Jain (in their capacity as Trustee of Nirmal Madhu Family Private Trust)
- Nirmal Bhanwarlal Jain
- Aditi Athavankar
- Venkataraman Rajamani
- Madhu N Jain
- Aditi Avinash Athavankar (in her capacity as Trustee of Kalki Family Private Trust)
Holding
The eight promoter/promoter-group Noticees violated Regulation 3(1) read with Regulations 13(1) and 13(2)(a) of the SAST Regulations by acquiring 4,54,000 shares on June 24, 2020 taking collective holding from 24.94% to 25.06% without prior public announcement of open offer, and are liable for monetary penalty under Section 15H(ii) of the SEBI Act.
Full text
___________________________________________________________________________ Adjudication order in the matter of IIFL Finance Limited
___________________________________________________________________________ Adjudication order in the matter of IIFL Finance Limited
___________________________________________________________________________ Adjudication order in the matter of IIFL Finance Limited
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Source: SecMarx — sebi:ORDER/SBM/VS/2021-22/15658-15665. 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.