sebi:Order/DS/DP/2022-23/16632-16638
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Facts / Headnote
Penalty imposed on all seven Noticees for violation of Regulation 29(2) read with 29(3) of SAST Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
Regulations
- Reg. 199
- Reg. 29(1)
- Reg. 29(2)
- Reg. 29(3)
- Reg. 29
- Reg. 2(1)(q)(2)
- Reg. 31A
Parties
- Nidhi Abhinav Aggarwal
- Pushpa Rajkumar Thard
- Rajkumar Manmal Thard
- Anil Ratanlal Saraf
- Nupur International Pvt. Ltd.
- Dattaprasad Narhar Kulkarni
- Ophelia Rodriques
Holding
The Noticees, being the promoter group and persons acting in concert of Nidhi Granites Limited, violated Regulation 29(2) read with Regulation 29(3) of the SAST Regulations by failing to disclose changes in shareholding exceeding 2% within two working days during the quarters ending March 2018 and March 2020. A penalty of Rs. 5,00,000/- was imposed jointly and severally on all seven Noticees under Section 15A(b) of the SEBI Act.
Full text
In the matter of Nidhi Granites Limited Page 2 of 12 to as ‘NGL’ or ‘Company’). The shares of the company are listed on the BSE Ltd. (‘BSE’). The examination conducted by SEBI, inter-alia, revealed that there was change in shareholding of the promoters of the Company viz. Nidhi Abhinav Aggarwal (PAN: AACPT0924G), Pushpa Rajkumar Thard (PAN: AAAPT8981F), Rajkumar Manmal Thard (PAN: AAAPT8621J), Anil Ratanlal Saraf (PAN: AAEPS0918H), Nupur International Pvt. Ltd. (PAN: AABCN0684P), Dattaprasad Narhar Kulkarni (PAN: ACGPK7797J) and Ophelia Rodriques (PAN: AJEPR4576P) (hereinafter referred to as Noticee No. 1 to 7 respectively or collectively referred to as ‘Noticees’).
In the matter of Nidhi Granites Limited Page 3 of 12 of provisions of regulations 29(2) read with 29(3) of SAST Regulations by the Noticees.
In the matter of Nidhi Granites Limited Page 4 of 12 within two working days as per Regulation 29(2) read with Regulation 29(3) of SAST Regulations for the change in shareholding of the promoter group in the Quarters ending March 2018 and March 2020.
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Source: SecMarx — sebi:Order/DS/DP/2022-23/16632-16638. 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.