sebi:Order/MC/VS/2021-22/13159
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 23
Regulations
- Reg. 29(1)
- Reg. 29
Parties
- Bharat Nabanitrai Oza
Holding
The Noticee violated Regulation 29(1) read with 29(3) of the SAST Regulations by failing to disclose his acquisition of 50,000 shares (taking his holding from 4.67% to 6.33%) within two working days of the acquisition on 01.08.2016, and is liable for a penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Bharat Nabanitrai Oza in the matter of Innovation Software Exports Ltd. Page 2 of 8 3. The appointment of the undersigned as AO was communicated vide order dated December 28, 2020.
Adjudication Order in respect of Bharat Nabanitrai Oza in the matter of Innovation Software Exports Ltd. Page 3 of 8 01.08.2016 whereupon closing balance became 1,90,000 (6.33%) shares of the Company.
Adjudication Order in respect of Bharat Nabanitrai Oza in the matter of Innovation Software Exports Ltd. Page 4 of 8 information. There was no malafide intention of not making the disclosure. (b) The capital of the company is Rs. 3 crores divided into 30,00,000 equity shares of Rs. 10/-. The stock was very thinly traded on the stock exchange. The trading of the company on the stock exchange was less than 0.1% of the total paid up capital of the company every year since
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Source: SecMarx — sebi:Order/MC/VS/2021-22/13159. 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.