sebi:Order/BM/GN/2023-24/29992
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Facts / Headnote
Violations of Regulation 29(1) read with 29(3), Regulation 29(2) read with 29(3), and Regulation 10(6) of SAST Regulations found; penalty imposed under Section 15A(b) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 10
- Reg. 29(1)
- Reg. 29
- Reg. 29(2)
- Reg. 29(3)
- Reg. 3(1)
- Reg. 201
- Reg. 3(2)
- Reg. 10(6)
- Reg. 2(q)(2)(v)
- Reg. 10(1)(d)(i)
- Reg. 10(1)(g)
Parties
- Minal Kiran Jangla
Holding
The Noticee violated Regulation 29(1) read with 29(3) and Regulation 29(2) read with 29(3) of the SAST Regulations (on 2 occasions of non-compliance and 4 occasions of delayed compliance) and Regulation 10(6) of the SAST Regulations, attracting penalty under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in the matter Grand Foundry Limited Page 2 of 22 SHOW CAUSE NOTICE, REPLY AND HEARING 3. Show Cause Notice (hereinafter referred to as “SCN”) dated December 20, 2023 was issued to the Noticee under rule 4(1) of the SEBI Rules to show cause as to why an inquiry should not be held against her in terms of Rule 4 of SEBI Rules read with Section 15-I of SEBI Act and penalty, if any, be not imposed on Noticee under Section 15A(b) of the SEBI Act.
Adjudication Order in the matter Grand Foundry Limited Page 3 of 22 Alleged Violation II - Compliance with Regulation 29(2) of the SAST Regulations in FY 2019-20 wherein there was a change in shareholding from 12.77% to 68.46%.
Adjudication Order in the matter Grand Foundry Limited Page 4 of 22 shareholding of the Noticee increased from 60.5% to 63.49% (i.e. 2.99%), attracting disclosure obligation under Regulation 29(2) of the SAST Regulations, which was to be made on or before February 24, 2022, i.e. two working days from the date of acquisition.
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Source: SecMarx — sebi:Order/BM/GN/2023-24/29992. 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.