sebi:Order/PM/PA/2021-22/13808
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Facts / Headnote
Violation of regulation 7(2)(a) established; penalty of Rs 1,00,000 imposed under section 15A(b)
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15F
Regulations
- Reg. 6(2)
- Reg. 7(2)
- Reg. 7(2)(a)
Parties
- Virat Kumar Yerramalla
Holding
The Noticee violated regulation 7(2)(a) of the PIT Regulations by failing to disclose transactions exceeding Rs 10,00,000 in the quarter January 1, 2019 to March 31, 2019, and a monetary penalty of Rs 1,00,000 under section 15A(b) of the SEBI Act was imposed.
Full text
Adjudication order in respect of Virat Kumar Yerramalla Page 2 of 13 in the matter of Mindtree Ltd. during the Investigation Period. It was further observed that the Noticee had done transactions aggregating to traded value in excess of Rs 10,00,000 during the Investigation Period.
Adjudication order in respect of Virat Kumar Yerramalla Page 3 of 13 in the matter of Mindtree Ltd. to why an inquiry should not be held against him in terms of rule 4 of the SEBI Adjudication Rules and penalty should not be imposed under section 15A(b) of the SEBI Act for the violation alleged to have been committed by him. In the SCN, the Noticee was asked to indicate whether he would prefer a personal hearing before the adjudicating officer in the matter. The SCN was duly served on the Noticee.
Adjudication order in respect of Virat Kumar Yerramalla Page 4 of 13 in the matter of Mindtree Ltd. transactions over any calendar quarter, aggregates to a traded value in excess of Rs 10,00,000 or such other value as may be specified.
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Source: SecMarx — sebi:Order/PM/PA/2021-22/13808. 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.