sebi:Order/MC/DS/2019-20/6201
Facts / Headnote
Penalty imposed on Noticee for failure to make mandated disclosures under Regulation 29(1) read with 29(3) of SAST Regulations, 2011 and Regulation 13(1) of PIT Regulations; Noticee exonerated of violation of Regulation 7(1) read with 7(2) of SAST Regulations, 1997.
Provisions invoked
- s. 15A
- s. 15I
- s. 15J
- s. 4A
Regulations relied on
- SEBI (PIT) Regulations, 1992 — 13(1)
- SEBI (SAST) Regulations, 2011 — 29(1)
Parties
- M/s Karvy Financial Services Limited
Holding
The Noticee failed to make mandated disclosures under Regulation 29(1) read with 29(3) of the SAST Regulations, 2011 and Regulation 13(1) of the PIT Regulations upon invocation of pledge, but was not in violation of Regulation 7(1) read with 7(2) of the SAST Regulations, 1997 as a financial institution exempt from such disclosure. A penalty of Rs. 5,00,000 was imposed under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in the matter of M/s Karvy Financial Services Limited In the matter of M/s Regaliaa Realty Limited. Page 2 of 12
Adjudication Order in the matter of M/s Karvy Financial Services Limited In the matter of M/s Regaliaa Realty Limited. Page 3 of 12
Adjudication Order in the matter of M/s Karvy Financial Services Limited In the matter of M/s Regaliaa Realty Limited. Page 4 of 12
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Source: SecMarx — sebi:Order/MC/DS/2019-20/6201. 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.