sebi:Order/MC/RM/2021-22/14819-14829
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Facts / Headnote
Show Cause Notice discharged; no penalty imposed against Noticees
Provisions invoked
- s. 12A
- s. 15H
- s. 15I
- s. 15J
- s. 24
- s. 67(2)
Regulations
- Reg. 3
- Reg. 3(a)
Holding
The Adjudicating Officer held that the material on record does not establish that Noticee-1 funded its preferential allotment by funding Noticee 4 and 5 through Noticee 6, 7, 8, 9, 10, and 11 as its conduits in violation of Section 12A(a),(b),(c) of the SEBI Act, 1992 read with Regulations 3(a),(b),(c),(d) & 4(1) of the PFUTP Regulations, 2003. No penalty was imposed.
Full text
Adjudication Order in the matter of PIL Italica Lifestyle Limited. Page 2 of 62 11. Aeroflex Industries Ltd. (AACCA6767D) having address at Survey No 41 42/13 42/14 42/18, Village Chal Near MIDC, Taloja, Panvel, Maharashtra- 410206
Adjudication Order in the matter of PIL Italica Lifestyle Limited. Page 3 of 62 should not be held and penalty not be imposed against Noticees under Sections 15HA of SEBI Act upon Noticees for the aforesaid alleged violations.
Adjudication Order in the matter of PIL Italica Lifestyle Limited. Page 4 of 62 (Table 1) 8. Details of promoters' shareholding (quarter ending) during the IP for the quarter ending Dec, 2015 are as follows: S. No. Name of the shareholder (PAN) December 31, 2015 Mar, 2016 to June, 2016 (No changes in aforesaid period) Sep, 2016 to Dec, 2016 (No changes in aforesaid period) No. of shares % of total shares No. of shares % of total shares No. of shares % of total shares 1 Dawood Investment Private Limited 35664300 67.93 35664300 67.93 142657200 67.93 2 Daud Ali 79050 0.15 79050 0.15 316200 0.15 Total 35743350 68.08 35743350 68.08 142973400 68.08 (Table 2)
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Source: SecMarx — sebi:Order/MC/RM/2021-22/14819-14829. 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.