sebi:Order/GR/RK/2020-21/8511-8528
Facts / Headnote
Violations found against multiple Noticees under SAST Regulations 1997, SAST Regulations 2011, PIT Regulations 1992, and ICDR Regulations 2009; monetary penalty determination not stated in the excerpt provided.
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15I
- s. 15J
- s. 15F
- s. 28A
- s. 173
Regulations relied on
- SEBI (ICDR) Regulations, 2009
- SEBI (PIT) Regulations, 1992
- SEBI (SAST) Regulations, 1997
- SEBI (SAST) Regulations, 2011
Parties
- Naaz Trading & Finance Ltd
- Vinay Poddar
- Ashok Gupta
- Sushma Gupta
- Ankush Gupta
- Mohit Sureka
- Raj Surekha
- Rashi Surekha
- N S Surekha HUF
- Raj Surekha HUF
- Sashi Surekha
- Akshat Gupta
- Simmi Poddar
- SVC Resources Ltd.
- Leman Diversified Fund
- Sushanku Enterprises Ltd.
- Subhtex India Ltd.
- Ashok Gupta HUF
Holding
The Noticees were found to have violated multiple disclosure and open-offer obligations under the SAST Regulations 1997, SAST Regulations 2011, PIT Regulations 1992, and ICDR Regulations 2009 in connection with shareholding changes in SVC Resources Limited. The excerpt does not include the final penalty determination.
Full text
Adjudication order in the matter of SVC Resources Limited Page 2 of 43 Mumbai-400057 Gurukripa, 6, Dixit Road, Vile Parle (east), Mumbai-400057. Alternate address: 403,Sears towers, Off C G Road, Gulbai Tekra, Ahemdabad-380006.
Adjudication order in the matter of SVC Resources Limited Page 3 of 43 7,Swastik society, Gulmohar Road, Vile Parle West, Mumbai,400056 Harel Mallac Global Services Ltd., Harel Mallac building, 18 Edith Cavell Street, Port Louis, Mauritius. 8 Rashi Sureka [PAN:AEFPS4958A] 7,Swastik society, Gulmohar Road, Vile ParleWest, Mumbai,400056 17 Sushanku Enterprises Ltd. [PAN: AAECS4434R] Shop no.4, Shiv smurti chamber, 9 A , Dr. A.B. Road, Worli, Mumbai- 400018. 9 N S Sureka HUF [PAN: Not available] 7,Swastik society, Gulmohar Road, Vile Parle West, Mumbai,400056
Adjudication order in the matter of SVC Resources Limited Page 4 of 43 observed that the Noticees had prima facie failed to comply with the provisions of SEBI (Prohibition of Insider Trading) Regulations 1992 (“PIT Regulations”), Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (“SAST Regulations, 1997”), Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SAST Regulations, 2011”), SEBI (Issue of capital and disclosure requirements) 2009 (“ICDR Regulations”). In view of the same, SEBI initiated adjudicating proceedings against the Noticees.
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/RK/2020-21/8511-8528. 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.