sebi:Order/AN/RG/2024-25/31121-31130

SEBI · SEBI · 2024-11-11 · Amar Navlani, Adjudicating Officer

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Facts / Headnote

Violation established; joint and several monetary penalty imposed on all Noticees

Provisions invoked

Regulations

Parties

Holding

The Noticees, as persons acting in concert, violated Regulations 29(1), 29(2) read with 29(3) of the SEBI SAST Regulations, 2011 by failing to disclose 11 instances of 5% and subsequent 2% changes in shareholding in EFAIL, and are jointly and severally liable for Rs.6,00,000 penalty under Section 15A(b) of the SEBI Act, 1992.

Full text

Adjudication order in the matter of trading activities of certain entities in the scrip of Elegant Floriculture & Agrotech (India) Ltd. Page 2 of 15 Sons HUF (hereinafter also referred to as “Noticee No. 4”), Amit Lohia HUF (hereinafter also referred to as “Noticee No. 5”), Rounak Lohia HUF (hereinafter also referred to as “Noticee No. 6”), Ms. Rakhi Lohia (hereinafter also referred to as “Noticee No. 7”), Ms. Saloni Lohia (hereinafter also referred to as “Noticee No. 8”), Ms. Puspa Devi Lohia (hereinafter also referred to as “Noticee No. 9”) and Colorshine Hosiery Pvt. Ltd. (hereinafter also referred to as “Noticee No. 10”) (collectively referred to as “Noticees”/ “Lohia group”) for the alleged violation of provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter also referred to as “SEBI SAST Regulations/ SAST Regulations”), pursuant to investigation in the matter of trading activities of certain entities in the scrip of Elegant Floriculture & Agrotech (India) Ltd., (‘EFAIL’ for short).

Adjudication order in the matter of trading activities of certain entities in the scrip of Elegant Floriculture & Agrotech (India) Ltd. Page 3 of 15 of the SEBI Act, 1992, for the violations alleged to have been committed by the Noticees, as stated.

Adjudication order in the matter of trading activities of certain entities in the scrip of Elegant Floriculture & Agrotech (India) Ltd. Page 4 of 15 Date Shareholding of Lohia group (no. of shares) Total no. of shares of the company % of Shareholding 05-Feb-2022 19,16,897 2,00,00,000 9.58 07-Feb-2022 19,16,897 2,00,00,000 9.58 08-Feb-2022 19,16,897 2,00,00,000 9.58 09-Feb-2022 19,16,897 2,00,00,000 9.58 10-Feb-2022 19,16,897 2,00,00,000 9.58 11-Feb-2022 19,73,301 2,00,00,000 9.87 12-Feb-2022 19,73,301 2,00,00,000 9.87 14-Feb-2022 19,87,453 2,00,00,000 9.94 15-Feb-2022 19,87,453 2,00,00,000 9.94 16-Feb-2022 19,87,453 2,00,00,000 9.94 17-Feb-2022 19,87,453 2,00,00,000 9.94 18-Feb-2022 26,66,083 2,00,00,000 13.33 19-Feb-2022 26,66,083 2,00,00,000 13.33 21-Feb-2022 28,61,565 2,00,00,000 14.31 22-Feb-2022 29,03,579 2,00,00,000 14.52 23-Feb-2022 30,06,347 2,00,00,000 15.03 24-Feb-2022 33,05,270 2,00,00,000 16.53 25-Feb-2022 35,07,876 2,00,00,000 17.54 26-Feb-2022 35,07,876 2,00,00,000 17.54 28-Feb-2022 35,25,880 2,00,00,000 17.63 01-Mar-2022 35,25,880 2,00,00,000 17.63 02-Mar-2022 36,39,093 2,00,00,000 18.20 03-Mar-2022 36,47,440 2,00,00,000 18.24 04-Mar-2022 36,48,385 2,00,00,000 18.24 05-Mar-2022 36,48,385 2,00,00,000 18.24 07-Mar-2022 36,67,938 2,00,00,000 18.34 08-Mar-2022 36,67,938 2,00,00,000 18.34 09-Mar-2022 38,46,394 2,00,00,000 19.23 10-Mar-2022 45,05,780 2,00,00,000 22.53 11-Mar-2022 45,12,707 2,00,00,000 22.56 12-Mar-2022 45,12,707 2,00,00,000 22.56 14-Mar-2022 45,12,70

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