sebi:Order/AP/SK/2020-21/10000-10005
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Facts / Headnote
Penalty imposed on Noticee No. 1 only; allegations against all Noticees on five of six charges not sustained
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
- s. 28A
Regulations
- Reg. 13(3)
- Reg. 29(1)
- Reg. 29
- Reg. 29(2)
- Reg. 201
- Reg. 31(2)
- Reg. 2(q)(2)
- Reg. 12(2)
Parties
- Mr. R.V. Ravikumar (Noticee No. 1)
- Noticee No. 2
- Noticee No. 3
- Noticee No. 4
- Noticee No. 5
- Ms. V. Chitra (Noticee No. 6)
Holding
Of the six allegations, only the failure by Noticee No. 1 (Mr. R.V. Ravikumar) to make requisite disclosures under PIT Regulations for a change in shareholding exceeding 2% (2.40%) as on January 19, 2012 was established, and a monetary penalty of ₹1,00,000 was imposed on him under Section 15A(b) of the SEBI Act. The remaining five allegations relating to SAST Regulations disclosures regarding pledge, invocation, and release of shares were not sustained.
Full text
______________________________________________________________________________________ Adjudication Order in respect of six entities in the matter of Ravi Kumar Distilleries Ltd. Page 2 of 14
______________________________________________________________________________________ Adjudication Order in respect of six entities in the matter of Ravi Kumar Distilleries Ltd. Page 3 of 14
______________________________________________________________________________________ Adjudication Order in respect of six entities in the matter of Ravi Kumar Distilleries Ltd. Page 4 of 14
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Source: SecMarx — sebi:Order/AP/SK/2020-21/10000-10005. 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.