sebi:Order/PM/PA/2021-22/15069-15073
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Facts / Headnote
Violation of regulation 5(4) of the PIT Regulations established; monetary penalty imposed under section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 4
- Reg. 199
- Reg. 2(g)
- Reg. 5(2)(i)
- Reg. 5(4)
Parties
- Members of promoter group of Mohota Industries Ltd. (five entities)
Holding
The Noticees violated regulation 5(4) of the PIT Regulations by failing to execute trades in accordance with their approved Trading Plan during the Trading Period, and the violation attracts monetary penalty under section 15HB of the SEBI Act read with section 15J.
Full text
Adjudication order in respect of five entities, Page 2 of 29 In the matter of Mohota Industries Ltd. 2. In relation to the above, the Company was requested to provide documents pertaining to the trading plans approved by the Company, vide letter dated July 05, 2019. Accordingly, pursuant to the aforesaid email, the Company vide letter dated July 11, 2019 submitted trading plans of the members of promoter group of the Company dated July 28, 2015 (hereinafter referred to as “Trading Plan”) sent to BSE Ltd. (hereinafter referred to as “BSE”) and National Stock Exchange of India Ltd. (hereinafter referred to as “NSE”). Further, vide email dated January 07, 2020, the Company submitted details of all the persons for whom the Company had approved the Trading Plan.
Adjudication order in respect of five entities, Page 3 of 29 In the matter of Mohota Industries Ltd. 4. On perusal of the Trading Plan, it was observed that the Noticees had undertaken to trade certain number of shares between the period commencing from July 28, 2015 and ending on July 31, 2016 (hereinafter referred to as “Trading Period”). However, as per the transaction statements provided by the National Securities Depository Limited (hereinafter referred to as “NSDL”) and Central Depository Services Ltd. (hereinafter referred to as “CDSL”) and trade details provided by BSE and NSE, it was observed that the Noticees had not traded in accordance with the Trading Plan.
Adjudication order in respect of five entities, Page 4 of 29 In the matter of Mohota Industries Ltd. prefer a personal hearing before the adjudicating officer in the matter. I note that the SCN was duly served on the Noticees.
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Source: SecMarx — sebi:Order/PM/PA/2021-22/15069-15073. 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.