sebi:Order/GG/VP/2022-23/16624
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Facts / Headnote
Penalty of Rs. 10,00,000 imposed under Section 15A(b) of the SEBI Act for violation of Regulation 29(2) read with Regulation 29(3) of SAST Regulations, 2011
Provisions invoked
- s. 15A
- s. 15
Regulations
- Reg. 29(1)
- Reg. 29
- Reg. 29(2)
- Reg. 29(3)
- Reg. 7(2)
- Reg. 201
- Reg. 29(3)(a)
Holding
The Noticee-promoter violated Regulation 29(2) read with Regulation 29(3) of the SAST Regulations, 2011 by failing to make timely disclosures of sale of shares to the target company and stock exchange, and is liable to a monetary penalty of Rs. 10,00,000 under Section 15A(b) of the SEBI Act.
Full text
______________________________________________________________________________________ Adjudication order in the matter of of Acewin Agriteck Limited Page 2 of 9 make the required disclosures. The details of non-compliance by the Noticee is given below:- Table No: 1 Sr. No. Date of transaction Number of shares sold % Shareholdin g after sale Change in shareholdin g Due date for disclosure u/r 29(2) 1. 28/06/2021 5,00,000 4.87% 53.96% 4.87% 01/07/2021 2. 28/06/2021 5,00,000 4.87% 49.09% 4.87% 01/07/2021 3. 05/07/2021 3,74,400 3.65% 45.44% 3.65% 08/07/2021 4. 06/07/2021 1,24,800 1.22% 44.23% 1.22% Not applicable 5. 07/07/2021 2,20,800 2.15% 42.07% 2.15% 12/07/2021 6. 08/07/2021 96,000 0.94% 41.14% 0.94% Not applicable 7. 09/07/2021 2,40,000 2.34% 38.80% 2.34% 14/07/2021 8. 22/07/2021 67,200 0.65% 38.15% 0.65% Not applicable 9. 26/07/2021 86,400 0.84% 37.30% 0.84% Not applicable 10. 27/07/2021 2,01,600 1.96% 35.34% 1.96% 30/07/2021 11. 28/07/2021 19,200 0.19% 35.15% 0.19% Not applicable 12. 29/07/2021 19,200 0.19% 34.97% 0.19% Not applicable 13. 30/07/2021 96,000 0.94% 34.03% 0.94% Not applicable 14. 04/08/2021 96,000 0.94% 33.09% 0.94% 09/08/2021 15. 05/08/2021 48,000 0.47% 32.63% 0.47% Not applicable 16. 06/08/2021 4,80,000 4.68% 27.95% 4.68% 11/08/2021 17. 09/08/2021 3,26,400 3.18% 24.77% 3.18% 12/08/2021 18. 10/08/2021 3,64,800 3.55% 21.22% 3.55% 13/08/2021 19. 11/08/2021 2,20,800 2.15% 19.06% 2.15% 16/08/2021 20. 12/08/2021 3,07,200 2.99% 16.07% 2.99% 17/08/2021 21. 13/08/2
______________________________________________________________________________________ Adjudication order in the matter of of Acewin Agriteck Limited Page 3 of 9
______________________________________________________________________________________ Adjudication order in the matter of of Acewin Agriteck Limited Page 4 of 9
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Source: SecMarx — sebi:Order/GG/VP/2022-23/16624. 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.