sebi:Order/GR/AE/2019-20/6753-6765
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on Noticees for violation of Regulation 8(2) of Takeover Regulations, 1997
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
- s. 28A
Regulations
- Reg. 8
- Reg. 8(2)
- Reg. 30(3)
- Reg. 30(1)
- Reg. 30
- Reg. 30(2)
- Reg. 201
Parties
- Noticee Nos. 1 to 13 (including Shree A J Patel Charitable Trust, Ms. Panna S. Patel, Mr. Ashok J Patel, and M/s Pfaudler Inc.)
Holding
The Noticees, as a promoter group, violated Regulation 8(2) of the Takeover Regulations, 1997 by failing to make requisite disclosures in 10 instances and making delayed disclosures in 7 instances out of 41 total instances. A penalty of Rs. 13,50,000/- was imposed jointly and severally on the Noticees under Section 15A(b) of the SEBI Act.
Full text
____________________________________________________________________________________ Adjudication order in the matter of GMM Pfaudler Ltd. Page 2 of 18
____________________________________________________________________________________ Adjudication order in the matter of GMM Pfaudler Ltd. Page 3 of 18
____________________________________________________________________________________ Adjudication order in the matter of GMM Pfaudler Ltd. Page 4 of 18
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Source: SecMarx — sebi:Order/GR/AE/2019-20/6753-6765. 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.