sebi:Order/AS/2021-22/15779-15780
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Facts / Headnote
Proceedings against Noticee-1 Rajendra Chandulal Shah disposed without penalty; Noticee-2 Vishnubhai Sunderlal Parekh held liable and penalized total Rs 85,00,000
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15J
- s. 28A
- s. 302(2)
- s. 248(7)
Regulations
- Reg. 7
- Reg. 3
- Reg. 7(1)
- Reg. 4
- Reg. 13
- Reg. 10
- Reg. 13(3)
- Reg. 4(1)
- Reg. 13(1)
- Reg. 31
- Reg. 13(5)
- Reg. 7(2)
- Reg. 30
Parties
- Rajendra Chandulal Shah
- Vishnubhai Sunderlal Parekh
Holding
Adjudication proceedings against Rajendra Chandulal Shah (Noticee-1) were disposed of with no penalty for want of evidence of directorship at the time of violation, while Vishnubhai Sunderlal Parekh (Noticee-2) was held liable as director of Right Finstock Pvt. Ltd. for violations of PFUTP, Takeover and Insider Trading Regulations and imposed total monetary penalty of Rs 85,00,000.
Full text
Page 2 of 21 Adjudication Order in respect of Rajendra Chandulal Shah and Vishnubhai Sunderlal Parekh in the matter of Gujarat Arth Ltd.
Page 3 of 21 Adjudication Order in respect of Rajendra Chandulal Shah and Vishnubhai Sunderlal Parekh in the matter of Gujarat Arth Ltd. the PFUTP Regulations; Regulation 10 of Takeover Regulations; Regulation 7(1) read with 7(2) of Takeover Regulations and Regulation 13(1) & (3) read with 13(5) of Insider Trading Regulations.
Page 4 of 21 Adjudication Order in respect of Rajendra Chandulal Shah and Vishnubhai Sunderlal Parekh in the matter of Gujarat Arth Ltd. requested that the proceeding against Right Finstock should be abated against Right Finstock, which is not existing as on date.
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Source: SecMarx — sebi:Order/AS/2021-22/15779-15780. 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.