sebi:Order/MC/DPS/2019-20/5747
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Facts / Headnote
Ex-parte penalty imposed
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
Regulations
- Reg. 13(1)
- Reg. 13(6)
Parties
- M/s Secure Earth Technologies Limited
Holding
The Noticee violated Regulation 13(6) of the PIT Regulations by disclosing information received under Regulation 13(1) after a delay of about 3 months. A monetary penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act was imposed on M/s Secure Earth Technologies Limited.
Full text
Adjudication Order in the matter of M/s Secure Earth Technologies Limited Page 2 of 8 aforesaid alleged violations. Subsequently, the undersigned was appointed as the Adjudicating Officer on May 10, 2018 which was communicated vide order dated October 22, 2018.
Adjudication Order in the matter of M/s Secure Earth Technologies Limited Page 3 of 8 working days of the receipt of information under Regulation 13(1) of the PIT Regulations. In view of the same, it was alleged that the Noticee had delayed in making disclosures of the information received under Regulation 13(1) of the PIT Regulations from Mr. Jaswant Behl and thereby, violated Regulation 13(6) of the PIT Regulations. The text of the aforesaid provisions is reproduced as under: SEBI (Prohibition of Insider Trading) Regulations, 1992 13. ….
Adjudication Order in the matter of M/s Secure Earth Technologies Limited Page 4 of 8 the SCN, the Noticee was advised to furnish its reply, if any, towards the SCN within 14 days of its receipt, failing which, it would be presumed that the Noticee had no reply to submit and the matter would be proceeded with on the basis of the material available on record. However, no reply towards the SCN was received from the Noticee.
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Source: SecMarx — sebi:Order/MC/DPS/2019-20/5747. 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.