sebi:Order/AP/VS/2020-21/10103
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation found; consolidated monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
- s. 15H
- s. 15F
- s. 28A
- s. 15I(2)
Regulations
- Reg. 13
- Reg. 199
- Reg. 13(6)
- Reg. 13(4)
- Reg. 13(5)
- Reg. 12
- Reg. 201
- Reg. 12(2)(a)
- Reg. 12(2)(b)
Parties
- Ms. Monika Rajiv Garware Modi
Holding
The Noticee, a promoter-director of Garware Polyester Limited, violated regulation 13(4) read with 13(5) of the PIT Regulations, 1992 on 10 occasions in 2012 by failing to disclose acquisitions to the stock exchanges within the stipulated time, and a consolidated monetary penalty of Rs.10,00,000 under section 15A(b) of the SEBI Act, 1992 was imposed.
Full text
_______________________________________________________________________________ Adjudication Order in respect of Ms. Monika Rajiv Garware Modi in the matter of Garware Polyester Limited Page 2 of 10
_______________________________________________________________________________ Adjudication Order in respect of Ms. Monika Rajiv Garware Modi in the matter of Garware Polyester Limited Page 3 of 10 was asked to reply within a period of 14 days. The Noticee vide letters dated July 21, 2020, August 03, 2020 and August 21, 2020 repetitively requested additional time to file reply. Due to ongoing pandemic situation the request of the Noticee was acceded to. However, no reply to the SCN was filed by the Noticee.
_______________________________________________________________________________ Adjudication Order in respect of Ms. Monika Rajiv Garware Modi in the matter of Garware Polyester Limited Page 4 of 10
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Source: SecMarx — sebi:Order/AP/VS/2020-21/10103. 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.