sebi:Order/AK/VP/2022-23/22274-22281
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Facts / Headnote
Violation of Regulation 10 read with Regulation 14(1) of SAST Regulations, 1997 and failure to comply with SEBI Order dated 09.03.2016 held established against the eight promoter-group noticees; penalty under sections 15H(ii) and 15HB of the SEBI Act held attracted.
Provisions invoked
- s. 11B
- s. 15
- s. 19
- s. 15H
- s. 15J
Regulations
- Reg. 44
- Reg. 10
- Reg. 14
- Reg. 14(1)
- Reg. 11
- Reg. 11(1)
- Reg. 14(2)
- Reg. 32
- Reg. 44(i)
- Reg. 5(3)(c)
- Reg. 20(4)(c)
Parties
- Metex Marketing Pvt. Limited
- Mr. Apurva M. Shah
- Mr. Ashni Shah
- Ms. Bhavna M. Shah
- Manish L. Shah
- Manish L. Shah (HUF)
- Ms. Chanchal Jain
- Ms. Rashi Jain
Holding
The promoter group's collective shareholding increase from 8.67% to beyond the 15% threshold on conversion of warrants on 12.12.2009 without public announcement violated Regulation 10 read with Regulation 14(1) of SAST Regulations, 1997, and subsequent non-compliance with the SEBI direction dated 09.03.2016 to make a public announcement attracted monetary penalty under sections 15H(ii) and 15HB read with section 15-I of the SEBI Act.
Full text
__________________________________________________________________________________________ Adjudication order in respect of eight entities in the matter of Koffee Break Pictures Limited Page 2 of 27
__________________________________________________________________________________________ Adjudication order in respect of eight entities in the matter of Koffee Break Pictures Limited Page 3 of 27
__________________________________________________________________________________________ Adjudication order in respect of eight entities in the matter of Koffee Break Pictures Limited Page 4 of 27
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Source: SecMarx — sebi:Order/AK/VP/2022-23/22274-22281. 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.