sebi:Order/PM/PA/2021-22/15272
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Facts / Headnote
Violation established; penalty of Rs 1,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15J
- s. 15F
Regulations
- Reg. 6(2)
- Reg. 7(2)(a)
Parties
- Shashwat Kumar Gupta
Holding
The Noticee violated regulation 7(2)(a) of the PIT Regulations by failing to disclose transactions exceeding Rs 10,00,000 in a calendar quarter within two trading days, and a monetary penalty of Rs 1,00,000 was imposed under section 15A(b) of the SEBI Act.
Full text
Adjudication order in respect of Shashwat Kumar Gupta Page 2 of 16 In the matter of Mindtree Ltd. transacted in the Company’s scrip 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 Shashwat Kumar Gupta Page 3 of 16 In the matter of Mindtree Ltd. the Noticee under rule 4 of the SEBI Adjudication Rules to show cause as 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. I note that the SCN was duly served on the Noticee. In the SCN, the Noticee was asked to indicate whether he would prefer a personal hearing before the adjudicating officer in the matter. I note that the SCN was duly served on the Noticee.
Adjudication order in respect of Shashwat Kumar Gupta Page 4 of 16 In the matter of Mindtree Ltd. (iv) In terms of the provisions of regulation 7(2)(a) of the PIT Regulations, as it existed at the time the Noticee committed the alleged violation, promoters, employees and directors of every company were required to disclose to the company the number of securities acquired or disposed of, within two trading days of such transaction, if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregated to a traded value in excess of Rs 10,00,000.
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Source: SecMarx — sebi:Order/PM/PA/2021-22/15272. 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.