sebi:Order/PB/AS/2021-22/14365
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Facts / Headnote
Penalty imposed on Noticee for violations of PIT Regulations, 1992 and SAST Regulations, 2011
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 13
- Reg. 29(1)
- Reg. 13(4)
- Reg. 12
- Reg. 29(2)
- Reg. 29(3)
Parties
- Renu Jindal
Holding
The Noticee, Renu Jindal, violated regulations 13(4A) and 13(5)(b) of the PIT Regulations, 1992 read with regulation 12 of the PIT Regulations, 2015, and regulations 29(1) read with 29(3) of the SAST Regulations, 2011, by failing to make required disclosures regarding share acquisitions in Delta Leasing & Finance Ltd. A penalty of ₹1,00,000 for each violation (₹2,00,000 total) was imposed under section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication order in respect of Renu Jindal in the matter of Delta Leasing & Finance Ltd Page 2 of 17 rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as Adjudication Rules, 1995) to inquire into and adjudge under section 15A(b) of the SEBI Act, 1992, the alleged violations of provisions of regulations 13(4A) and 13(5)(b) of the PIT Regulations, 1992 read with regulation 12 of the PIT Regulations, 2015 and regulations 29(1), (2) and (3) of the SAST Regulations, 2011. Thereafter, the present proceedings were transferred to Shri K Saravanan, conveyed vide communique dated October 28, 2020, and further, to the undersigned, conveyed vide communique dated July 14,
Adjudication order in respect of Renu Jindal in the matter of Delta Leasing & Finance Ltd Page 3 of 17 The details of previous holdings and changes in the total holding consequent to aforesaid acquisitions for Noticee is enclosed as Annexure 7.
Adjudication order in respect of Renu Jindal in the matter of Delta Leasing & Finance Ltd Page 4 of 17 As per provisions of regulation 29(1) of the SAST Regulations, 2011, an acquirer who acquires shares or voting rights in a target company which taken together with shares or voting rights, if any, held by him/ her and by persons acting in concert with him her in such target company, aggregating to five per cent or more of the shares of such target company, shall disclose their aggregate shareholding and voting rights in such target company in such form as may be specified.
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Source: SecMarx — sebi:Order/PB/AS/2021-22/14365. 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.