sebi:Order/PM/PA/2021-22/14890
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Facts / Headnote
Violation of regulation 7(2)(a) of PIT Regulations held established; penalty of Rs 1,00,000 imposed under section 15A(b) of SEBI Act
Provisions invoked
- s. 24
- s. 15A
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15J
- s. 15F
Regulations
- Reg. 13
- Reg. 199
- Reg. 7
- Reg. 6(2)
- Reg. 7(2)
- Reg. 7(2)(a)
- Reg. 7(2)(b)
Parties
- Nitin Kumar Gupta
Holding
Nitin Kumar Gupta, as an employee, violated regulation 7(2)(a) of the PIT Regulations by failing to disclose to the company within two trading days transactions exceeding Rs 10,00,000 in a calendar quarter, and is liable to a monetary penalty of Rs 1,00,000 under section 15A(b) of the SEBI Act.
Full text
Adjudication order in respect of Nitin Kumar Gupta Page 2 of 22 In the matter of Mindtree Ltd. 3. The investigation revealed that Nitin Kumar Gupta (hereinafter referred to as the “Noticee”) was an employee of the Company and had transacted in the Company’s scrip on multiple occasions, including during the Investigation Period. It was further observed that the Noticee had done transactions aggregating to a traded value in excess of Rs 10,00,000 over a calendar quarter.
Adjudication order in respect of Nitin Kumar Gupta Page 3 of 22 In the matter of Mindtree Ltd. C. SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication order in respect of Nitin Kumar Gupta Page 4 of 22 In the matter of Mindtree Ltd. a traded value in excess of Rs 10,00,000 in a calendar quarter i.e., from January 01, 2019 till March 31, 2019.
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