sebi:Order/GR/RR/2020-21/9394
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Facts / Headnote
Penalty imposed on the Noticee for violation of SAST Regulations, 2011
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 29(1)
- Reg. 29(2)
- Reg. 29(3)
Parties
- Sunayana Investments Company Limited
Holding
The Noticee violated Regulation 29(1) and Regulation 29(2) read with Regulation 29(3) of the SAST Regulations, 2011 by failing to make required disclosures upon crossing the 5% shareholding threshold and upon subsequent disposal of shares. A monetary penalty of Rs. 2,00,000/- was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication Order against Sunayana Investments Company Limited in the matter of Amrapali Fincap Limited. Page 2 | 12 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order against Sunayana Investments Company Limited in the matter of Amrapali Fincap Limited. Page 3 | 12 e) From the website of BSE, it was observed that no disclosures under SAST Regulations were made by the Noticee.
Adjudication Order against Sunayana Investments Company Limited in the matter of Amrapali Fincap Limited. Page 4 | 12 5. In the interest of natural justice and in order to conduct an inquiry in terms of Rule 4 (3) of the Adjudication Rules, Noticee was granted an opportunity of personal hearing through webex platform on October 8, 2020. The said hearing was granted through videoconferencing on the Webex platform in view of the difficulties faced due to Covid 19-pandemic. It was observed that the said hearing notice was duly served upon the Noticee at the email id of the Noticee. However, the Noticee neither attended the said hearing not replied to the same.
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Source: SecMarx — sebi:Order/GR/RR/2020-21/9394. 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.