sebi:Order/AP/VS/2021-22/11313-11320
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Facts / Headnote
Violations established; consolidated monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 11(1)
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 7(1)
- Reg. 13(1)
- Reg. 13(3)
- Reg. 29(1)
- Reg. 13(5)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 2(1)(q)(2)
Parties
- Bharat Patel
- Hardik B Patel
- Minal Patel
- Ruchit Bharat Patel
- Pat Financial Consultant Pvt. Ltd.
- Fidelity Multitrade Pvt. Ltd.
- Pasha Finance Pvt. Ltd.
- Prashant Jayantilal Patel
Holding
Noticee No.1 was held to have violated regulation 13(1) and 13(3) read with 13(5) of the PIT Regulations, and Noticees No.1 to 8 were held to have violated regulation 29(1) and 29(2) read with 29(3) of the SAST Regulations, 2011. A penalty of Rs.1,00,000 individually on Noticee No.1 and Rs.2,00,000 jointly and severally on Noticees No.1 to 8 was imposed under section 15A(b) of the SEBI Act.
Full text
_____________________________________________________________________________ Adjudication Order in respect of 8 Noticees in the matter of Garware Polyester Limited Page 2 of 10
_____________________________________________________________________________ Adjudication Order in respect of 8 Noticees in the matter of Garware Polyester Limited Page 3 of 10
_____________________________________________________________________________ Adjudication Order in respect of 8 Noticees in the matter of Garware Polyester Limited Page 4 of 10 (3) The disclosures required under sub-regulation (1) and sub-regulation (2) shall be made within two working days of the receipt of intimation of allotment of shares, or the acquisition of shares or voting rights in the target company to,— (a) every stock exchange where the shares of the target company are listed; and (b) the target company at its registered office.
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Source: SecMarx — sebi:Order/AP/VS/2021-22/11313-11320. 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.