sebi:Order/GR/KG/2021-22/13497-13498
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; penalty of Rs. 1,00,000 imposed jointly and severally on Noticee No. 2 and Noticee No. 3
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
- s. 22(7)
Regulations
- Reg. 45
- Reg. 23
- Reg. 24
- Reg. 201
- Reg. 23(1)(a)
- Reg. 22(3)
- Reg. 20(7)
- Reg. 45(2)
Parties
- Heshika Growth Fund
- Plutus Terra India Fund
Holding
Noticee No. 2 (Heshika Growth Fund) and Noticee No. 3 (Plutus Terra India Fund) violated FPI Regulations by failing to report common control and breaching the 10% investment limit in Sathavahana Ispat Limited from March 20, 2019 to June 11, 2019, and are liable to a penalty of Rs. 1,00,000 jointly and severally under Section 15HB of the SEBI Act.
Full text
Adjudication Order in respect of Heshika Growth Fund and Plutus Terra India Fund in the matter of Sathavahana Ispat Limited Page 2 of 32
Adjudication Order in respect of Heshika Growth Fund and Plutus Terra India Fund in the matter of Sathavahana Ispat Limited Page 3 of 32
Adjudication Order in respect of Heshika Growth Fund and Plutus Terra India Fund in the matter of Sathavahana Ispat Limited Page 4 of 32
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/GR/KG/2021-22/13497-13498. 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.