sebi:Order/AK/VV/2022-23/22062-22063
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations established; penalties imposed on both Noticees
Provisions invoked
- s. 15A
- s. 15
- s. 11B
- s. 11
- s. 15H
- s. 15J
Regulations
- Reg. 3(3)
- Reg. 3(1)
- Reg. 30(1)
- Reg. 2(1)(q)
- Reg. 3(2)
- Reg. 25(5)
- Reg. 31(4)
Parties
- Mala Jhunjhunwala
- B. P. Jhunjhunwala & others HUF
Holding
The Noticees violated Regulation 3(3) r/w 3(1) and 25(5) of SAST Regulations by failing to make a public announcement of an open offer after Noticee No.1's individual shareholding exceeded 25%, and violated Regulation 31(4) r/w 31(5) by making delayed encumbrance disclosures. Penalties of Rs. 20,00,000/- and Rs. 4,00,000/- were imposed on Mala Jhunjhunwala, and Rs. 24,00,000/- jointly and severally on both Noticees.
Full text
Adjudication Order in respect of two entities in the matter of Onesource Ideas Venture Ltd Page 2 of 18 public shareholders, who were holding shares of the Company from the trigger date i.e. May 27, 2017. The maximum consideration payable under this open offer assuming full acceptance including the interest component was 1,88,32,000/-.
Adjudication Order in respect of two entities in the matter of Onesource Ideas Venture Ltd Page 3 of 18 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of two entities in the matter of Onesource Ideas Venture Ltd Page 4 of 18 shareholders of the company at a price of ₹16/- per share plus an interest of ₹7.39/- per share payable only to those continuing public shareholders, who were holding shares of the Company from the trigger date i.e. May 27,
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Source: SecMarx — sebi:Order/AK/VV/2022-23/22062-22063. 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.