sebi:Order/GR/HK/2022-23/18165-18169
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Facts / Headnote
Noticee No.1 held to be an insider and held to have violated Section 12A(d) & (e) of SEBI Act, 1992 and Regulation 4(1) of PIT Regulations in respect of off-market transfer of 25,00,000 shares of PSL on 04/05/2016.
Provisions invoked
- s. 15A
- s. 15
- s. 12A
- s. 15H
- s. 13
- s. 16
- s. 15G
- s. 15J
- s. 28A
- s. 18
- s. 23
- s. 23H
- s. 17
- s. 19G
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 7
- Reg. 4
- Reg. 2(c)
- Reg. 7(2)
- Reg. 7(2)(a)
- Reg. 7(2)(b)
- Reg. 20
- Reg. 20A
- Reg. 31(1)
- Reg. 2(1)(n)
- Reg. 9(3)
- Reg. 66
- Reg. 4(2)
Parties
- Shri Prakash C Kanugo (Noticee No.1)
- Dumet Wire India Pvt. Ltd. (Noticee No.2)
- Prakash Steelage Limited (Noticee No.3)
- Ms. Palak Kohli Kochhar (Noticee No.4)
- Ajcon Global Services Ltd. (Noticee No.5)
Holding
Noticee No.1, Chairman and Managing Director and promoter of Prakash Steelage Limited, was an insider in possession of UPSI relating to financial results for quarter ended March 31, 2016 and his off-market transfer of 25,00,000 shares on 04/05/2016 during UPSI period violated Section 12A(d) & (e) of SEBI Act and Regulation 4(1) of PIT Regulations.
Full text
Adjudication Order in the matter of suspected insider trading activities of certain entities in the scrip of Prakash Steelage Ltd. Page 2 of 49
Adjudication Order in the matter of suspected insider trading activities of certain entities in the scrip of Prakash Steelage Ltd. Page 3 of 49
Adjudication Order in the matter of suspected insider trading activities of certain entities in the scrip of Prakash Steelage Ltd. Page 4 of 49
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Source: SecMarx — sebi:Order/GR/HK/2022-23/18165-18169. 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.