sebi:Order/GR/HK/2023-24/28062-28064

SEBI · SEBI · 2017-03-08 · G. Ramar, Adjudicating Officer

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 Noticee No.2 and Noticee No.3 for insider trading and related violations; Noticee No.1 proceedings addressed separately

Provisions invoked

• s. 15
• s. 12A
• s. 12
• s. 15H
• s. 24(1)
• s. 15G
• s. 15J
• s. 15F
• s. 28A
• s. 23A
• s. 23J
• s. 23
• s. 8(2)
• s. 9(5)

Regulations

• Reg. 2(c)
• Reg. 3
• Reg. 7
• Reg. 8
• Reg. 29(1)
• Reg. 3(a)
• Reg. 9
• Reg. 2(1)(d)
• Reg. 2(1)(g)
• Reg. 9(1)
• Reg. 30
• Reg. 4
• Reg. 23
• Reg. 4(1)
• Reg. 6
• Reg. 3(1)
• Reg. 2(1)(n)
• Reg. 2(1)(g)(i)
• Reg. 6(2)(a)
• Reg. 30(6)

Parties

• Mukesh Kumar Gupta (Noticee No.1)
• Manish Goel (Noticee No.2)
• Noticee No.3 (Ravi Shankar, Compliance Officer)

Holding

Noticee No.2 (Manish Goel, promoter and Managing Director of SCTL) was found to have violated Regulation 3(1) of PIT Regulations by communicating UPSI regarding the demand notice from Macquarie Bank to connected persons, and Noticee No.3 (Compliance Officer) violated the code of conduct by failing to close the trading window. Penalties were imposed under Sections 15G(ii), 15HA, 15HB of the SEBI Act and Section 23A(a) read with 24(1) of SCRA.

Full text

Adjudication Order in the matter of insider trading activities in the scrip of Shilpi Cable Technologies Ltd. Page 2 of 69

Adjudication Order in the matter of insider trading activities in the scrip of Shilpi Cable Technologies Ltd. Page 3 of 69

Adjudication Order in the matter of insider trading activities in the scrip of Shilpi Cable Technologies Ltd. Page 4 of 69

Source: SecMarx — sebi:Order/GR/HK/2023-24/28062-28064. 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.