sebi:Order/BD/VS/2020-21/7911
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Facts / Headnote
Alleged violations of Sections 12A(d) and 12A(e) of the SEBI Act, 1992 and Regulation 3(1) of SEBI (PIT) Regulations, 2015 sustained; penalty quantum to be determined under Section 15J
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 12
- s. 15G
- s. 15J
- s. 28A
- s. 3(1)
Regulations
- Reg. 3
- Reg. 2
- Reg. 201
- Reg. 2(1)(g)
- Reg. 2(1)
- Reg. 3(1)
- Reg. 2(1)(n)
Parties
- Noticee (unnamed in excerpt)
Holding
The Noticee was found to have been in possession of UPSI (unpublished financial results of Asian Paints Ltd.) and to have communicated it via WhatsApp to Shruti Vora, violating Regulation 3(1) of the SEBI (PIT) Regulations, 2015 and Sections 12A(d) and 12A(e) of the SEBI Act, 1992. The charge against the Noticee was sustained.
Full text
Adjudication Order in the matter of circulation of UPSI through WhatsApp messages – Asian Paints Ltd., Page 2 of 36 of the provisions of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”) and SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as “ SEBI (PIT) Regulations”) during the period March 27, 2017 to May 11, 2017 (hereinafter referred to as “Investigation Period”).
Adjudication Order in the matter of circulation of UPSI through WhatsApp messages – Asian Paints Ltd., Page 3 of 36 financial results / having access to financial information at various stages / persons who attended the corresponding Board Meeting, details of trading window closure period etc.
Adjudication Order in the matter of circulation of UPSI through WhatsApp messages – Asian Paints Ltd., Page 4 of 36 i. The agenda for the meeting of the Audit Committee of the company (“Audit Committee”), excluding the financial results, was circulated to the members of the Audit Committee. 29th April ,2017
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Source: SecMarx — sebi:Order/BD/VS/2020-21/7911. 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.