sebi:Order/AP/VS/2020-21/8750
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed under Section 15A(b) for failure to make disclosures for March 22, 2013 acquisition; no penalty imposed for delayed disclosures pertaining to July 12, 2013 transactions in view of prior advisory
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
- s. 15
- s. 15F
- s. 28A
- s. 393
Regulations
- Reg. 13
- Reg. 199
- Reg. 13(5)
- Reg. 12
Parties
- Mr. Sorabh Rakesh Jain
Holding
The Noticee failed to make complete disclosures under Regulations 13(4) and 13(4A) read with 13(5) for increase of shareholding from 13,700 shares (0.03%) to 9,15,020 shares (2.33%) on March 22, 2013 and is liable to Rs. 1,00,000 penalty; no penalty for the July 12, 2013 delayed disclosures already covered by advisory.
Full text
__________________________________________________________________________ Adjudication Order in respect of Mr. Sorabh Rakesh Jain in the matter of SRK Industries Limited Page 2 of 9
__________________________________________________________________________ Adjudication Order in respect of Mr. Sorabh Rakesh Jain in the matter of SRK Industries Limited Page 3 of 9 (a) the receipts of intimation of allotment of shares, or (b) the acquisition or sale of shares or voting rights, as the case may be.
__________________________________________________________________________ Adjudication Order in respect of Mr. Sorabh Rakesh Jain in the matter of SRK Industries Limited Page 4 of 9 the capital was also reduced to set off the accumulated losses vide Scheme of arrangement approved by Hon’ble High Court of Judicature at Bombay and Hon’ble High Court of Judicature at Chennai effective from March 12, 2013.
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Source: SecMarx — sebi:Order/AP/VS/2020-21/8750. 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.