sebi:Order/MC/VS/2019-20/5732-5734
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Facts / Headnote
Allegations against Noticee No. 1 not established; penalties imposed on Noticee Nos. 2 and 3
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
- s. 23
- s. 23E
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 11
- Reg. 3
- Reg. 7(3)
- Reg. 7(2)
Parties
- Jindal Worldwide Ltd.
- Yamunadutt A Agrawal
- Amit Y. Agrawal
Holding
The allegations of violation of Regulation 7(3) of the Takeover Regulations and Clause 35 of the Listing Agreement by Noticee No. 1 (Jindal Worldwide Ltd.) were not established, and no penalty was imposed on it. Noticee No. 2 (Yamunadutt A Agrawal) and Noticee No. 3 (Amit Y. Agrawal) were found to have violated Regulation 7(1A) read with Regulation 7(2) and Regulation 7(1) read with Regulation 7(2) of the Takeover Regulations respectively, and a total penalty of Rs. 1,00,000/- was imposed (Rs. 50,000/- each).
Full text
Page 2 of 18 Adjudication Order in respect of Jindal Worldwide Ltd., Yamunadutt A Agrawal and Amit Y. Agrawal in the matter of Jindal Worldwide Ltd.
Page 3 of 18 Adjudication Order in respect of Jindal Worldwide Ltd., Yamunadutt A Agrawal and Amit Y. Agrawal in the matter of Jindal Worldwide Ltd. to show cause as to why an inquiry should not be held and penalty not be imposed – (a) Under Section 23E of the SCRA Section 15A (b) of the SEBI Act for alleged violation of Sections 7 (3) of the Takeover Regulations read with Clause 35 of the Listing Agreement in respect of Noticee No. 1, (b) Under Section 15A(b) of the SEBI Act for alleged violation of Regulation 7 (1A) read with Regulation 7(2) of the Takeover Regulations in respect of Noticee No. 2 and (c) Under Section 15A(b) of the SEBI Act for alleged violation of Regulation 7 (1) read with Regulation 7 (2) of the Takeover Regulations in respect of Noticee No. 3
Page 4 of 18 Adjudication Order in respect of Jindal Worldwide Ltd., Yamunadutt A Agrawal and Amit Y. Agrawal in the matter of Jindal Worldwide Ltd. 13.08.2010 Shares transferred from Noticee No. 2 to Noticee No. 3 21,76,800 10.86% 30.09.2010 Shareholding as on 30.09.2010 28,60,000 14.26%
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Source: SecMarx — sebi:Order/MC/VS/2019-20/5732-5734. 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.