sebi:Order/AK/VV/2022-23/21791
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Facts / Headnote
Penalty imposed on the Noticee for violation of Regulation 29(2) r/w Regulation 29(3) of the Takeover Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15J
Regulations
- Reg. 29(2)
- Reg. 29(3)
Parties
- Kothari Trade Investment Private Limited
Holding
The Noticee violated Regulation 29(2) r/w Regulation 29(3) of the Takeover Regulations by failing to make requisite disclosures within two working days of transactions resulting in change exceeding 2% in shareholding, and is liable for a monetary penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Kothari Trade Investment Private Limited in the matter of CHD Chemicals Limited Page 2 of 15 Takeover) Regulations, 2011 (hereinafter referred to as “Takeover Regulations”).
Adjudication Order in respect of Kothari Trade Investment Private Limited in the matter of CHD Chemicals Limited Page 3 of 15 15-I r/w section 15 A(a) of SEBI Act, the alleged violation of regulation 29(2) r/w regulation 29(3) of Takeover Regulations by the Noticee. Pursuant to transfer of Ms. Geetha G., SEBI appointed undersigned as AO, vide order dated August 29, 2022.
Adjudication Order in respect of Kothari Trade Investment Private Limited in the matter of CHD Chemicals Limited Page 4 of 15 opportunity of hearing in the said matter. An opportunity of hearing was also granted to the Noticee on November 11, 2022. The Noticee requested to provide extension of time for submitting its reply and the personal hearing. The Noticee also authorized Mr. Amit Shah, Mr. Nithish Bangera – PCS and Ms. Palak Jain – PCS and/or any person authorized by them to appear before SEBI for personal hearing and make all necessary submissions in above mentioned matter. The request of the Noticee was considered and vide email dated November 11, 2022 the Noticee was advised to appear for hearing before the undersigned at 1100 hrs on November 29, 2022. The Noticee was also advised to submit its response to the SCN any time before November 29, 2022.
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Source: SecMarx — sebi:Order/AK/VV/2022-23/21791. 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.