sebi:Order/AK/AJ/2023-24/28371-28375
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed on Noticee No. 5 (Art Nirman Limited) for violation of Regulation 7(2)(b) of PIT Regulations; no further penalty imposed on Noticees 1 to 4 as violation was considered single violation for penalty purposes.
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 13(1)
- Reg. 7(1)
- Reg. 29(2)
- Reg. 29
- Reg. 7(2)
- Reg. 7(2)(a)
- Reg. 7(2)(b)
- Reg. 44(3)
Parties
- Mr. Ashokkumar Raghuram Thakker
- Mrs. Dharmisthaben Ashokkumar Thakkar
- Mr. Piyushkumar Chandrakantbhai Thakkar
- Mr. Raghurambhal Varsambhai Thakkar
- Art Nirman Limited
Holding
Noticee No. 5 (Art Nirman Limited) violated Regulation 7(2)(b) of the PIT Regulations by failing to notify the stock exchange within two trading days of the allotment and conversion of warrants, and a penalty of Rs. 2,00,000 was imposed. No further penalty was imposed on Noticees 1 to 4 as the violation of Regulation 7(2)(a) of PIT Regulations and Regulation 29 of SAST Regulations were considered a single violation for penalty purposes.
Full text
__________________________________________________________________________________________ Adjudication order in respect of five entities in the matter of Art Nirman Limited Page 2 of 9
__________________________________________________________________________________________ Adjudication order in respect of five entities in the matter of Art Nirman Limited Page 3 of 9
__________________________________________________________________________________________ Adjudication order in respect of five entities in the matter of Art Nirman Limited Page 4 of 9
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Source: SecMarx — sebi:Order/AK/AJ/2023-24/28371-28375. 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.