sebi:Order/BD/VS/2020-21/7916
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Facts / Headnote
Penalty imposed on the Noticee for violation of Sections 12A(d) & 12A(e) of the SEBI Act, 1992 and Regulation 3(1) of SEBI (PIT) Regulations, 2015
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 12
- s. 15G
- s. 15J
- s. 28A
- s. 3(1)
Regulations
- Reg. 3
- Reg. 29(1)
- Reg. 2
- Reg. 2(1)(g)
- Reg. 2(1)
- Reg. 3(1)
- Reg. 2(1)(n)
Parties
- Mr. Aditya Omprakash Gaggar
Holding
The Noticee, Mr. Aditya Omprakash Gaggar, was held liable for communicating unpublished price sensitive information (UPSI) relating to Bata India Ltd.'s quarterly financial results through WhatsApp messages prior to their public announcement, in violation of Regulation 3(1) of the SEBI (PIT) Regulations, 2015 and Sections 12A(d) & 12A(e) of the SEBI Act, 1992. A penalty of ₹15,00,000 was imposed under Section 15G of the SEBI Act.
Full text
Adjudication Order in the matter of circulation of UPSI through WhatsApp messages – Bata India Ltd Page 2 of 31 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 during the period of January 1, 2016 to February 10, 2016 (hereinafter referred to as “Investigation Period”).
Adjudication Order in the matter of circulation of UPSI through WhatsApp messages – Bata India Ltd Page 3 of 31 S.No. Date-Time Announcement/News Price Impact/Shares Traded Remarks December 31, 2014 to Rs. 6247.090 million for the quarter ended December 31, 2015.
Adjudication Order in the matter of circulation of UPSI through WhatsApp messages – Bata India Ltd Page 4 of 31 Date Particular of events Details of names and designations of persons involved January 1, 2015 to December 31, 2015 under US GAAP January 11, 2016 – January 12, 2016 Preparation of the consolidated results as per US GAAP for the calendar year. Aastha Grover, Assistant Manager Chandrima Malik, Manager, Finance Kundan Kumar, Group Manager – Accounts January 13, 2016 – January 14, 2016 Preparation of other related reports of Monthly Information Package (MIP) and Financial Reporting Package(Finpack) Aastha Grover, Assistant Manager Chandrima Malik, Manager, Finance Kundan Kumar, Group Manager – Accounts January 15, 2016 Submission of financial reporting package under US GAAP to the global headquarter. Peeyush Gupta, General Manager Saket Mohta, AVP-Finance RK Gupta, Director Finance January 16, 2016 – January 19, 2016 Preparation of trial balances as per Indian GAAP, by eliminating US GAAP adjustments and identification and accounting for Indian GAAP adjustments. Aastha Grover, Assistant Manager Kundan Kumar, Group Manager – Accounts January 20, 2016 Preparation of quarterly results as per the Indian GAAP for the quarter ended on December 31, 2015(“Quarterly Financial Statements”) Peeyush Gupta, General Manager Aastha Grover, Assistant Manager Kundan Kumar, Group Manager – Accounts January 21, 2016 – January 25, 2016 Internal review of the Quarterly Financial Results b
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Source: SecMarx — sebi:Order/BD/VS/2020-21/7916. 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.