sebi:Order/KS/AE/2020-21/9445
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Facts / Headnote
Penalty imposed on the Noticee for violations of SAST Regulations, 2011
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
- s. 28A
Regulations
- Reg. 10
- Reg. 29(1)
- Reg. 10(6)
- Reg. 10(7)
Parties
- Anurodh Merchandise Pvt Ltd
Holding
The Noticee violated Regulations 10(6), 10(7), and 29(1) read with 29(3) of SAST Regulations, 2011 by making delayed disclosures and reports to stock exchanges and SEBI, and was imposed a total penalty of Rs. 3,00,000/- under Sections 15A(a) and 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 12 2. It was observed that w.r.t the aforesaid acquisition on 01.07.2016, the Noticee was required to file a report to the stock exchanges not later than four working days from the acquisition under Regulation 10(6) of SAST Regulations, 2011. However, the Noticee filed the aforesaid report with BSE on February 26, 2018 i.e. with a delay of approx. 1 year and 8 months. Thus, the Noticee was alleged to have violated Regulation 10(6) of SAST Regulations, 2011.
Page 3 of 12 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 6. A Show Cause Notice dated September 04, 2020 (hereinafter referred to as 'SCN') was issued earlier to the Noticee in terms of Section 15I of the SEBI Act, 1992 read with Rule 4 of Adjudication Rules for the violations as specified in the SCN.
Page 4 of 12 4. The non-disclosure was only due to inadvertence and wrong interpretation of the regulations and not due to any mala fide intention.
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Source: SecMarx — sebi:Order/KS/AE/2020-21/9445. 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.