sebi:Order/MC/DS/2020-2021/8759
Facts / Headnote
Penalty imposed on the Noticee for violations of PIT Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 25
- s. 9(1)
Regulations relied on
- SEBI (PIT) Regulations, 2015 — 6
- SEBI (PIT) Regulations, 2015 — 7(2)(a)
- SEBI (PIT) Regulations, 2015 — 9(1)
Parties
- Shri Harsh Dugar
Holding
The Noticee was found to have failed to make mandated disclosures under Regulation 7(2)(a) of PIT Regulations and failed to obtain pre-clearance as required under the Federal Bank Code of Conduct prescribed under Regulation 9(1) of PIT Regulations read with Clause 6 of Schedule B. A total penalty of Rs. 8,00,000 was imposed (Rs. 4,00,000 under Section 15A(b) and Rs. 4,00,000 under Section 15HB of the SEBI Act).
Full text
Adjudication Order in respect of Shri Harsh Dugar in the matter of Federal Bank Limited Page 2 of 17 Act, 1992 (hereinafter referred to as 'SEBI Act'), the aforesaid alleged violations against the Noticees. The appointment of the AO was communicated vide order dated September 24, 2019.
Adjudication Order in respect of Shri Harsh Dugar in the matter of Federal Bank Limited Page 3 of 17 20/03/2017 FEDERALBNK 10,000 -
Adjudication Order in respect of Shri Harsh Dugar in the matter of Federal Bank Limited Page 4 of 17 21/03/2017 FEDERALBNK 10,000 875,000 22/03/2017 FEDERALBNK 20,000 1,746,201 23/03/2017 FEDERALBNK 10,000 873,500
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