sebi:Order/PM/PA/2022-23/16206-16208
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Facts / Headnote
Violation established; monetary penalty imposed
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 199
- Reg. 10
- Reg. 14(1)
- Reg. 11
- Reg. 13(4)
- Reg. 30(4)
Parties
- Murlidhar Mohanlal Lakhani
- Gaurav Ranjitsinh Chavda
- Manharben Ranjitsinh Chavda
Holding
The Noticees violated Regulation 14(1) read with Regulation 10 of the Takeover Regulations, 1997 by failing to make a public announcement for open offer after crossing the 15% threshold on October 15, 2010, and are liable for monetary penalty under Section 15H(ii) of the SEBI Act.
Full text
Adjudication Order in the matter of Amarnath Securities Ltd., Page 2 of 14 For the quarter ended No of promoters Shareholding (%) June 2008 239 57.28 March 2009 23 61.24 September 2010 22 60.24 December 2010 5 55.50
Adjudication Order in the matter of Amarnath Securities Ltd., Page 3 of 14 provisions of Regulation 10 of SEBI (Substantial Acquisition of Shares and Takeovers) 1997 (hereinafter referred to as “Takeover Regulations, 1997”).
Adjudication Order in the matter of Amarnath Securities Ltd., Page 4 of 14 platform, which was sent to the Noticees through digitally signed email in terms of the provisions of Rule 7 (1) (b) of SEBI Adjudication Rules. The Noticees vide email dated October 5, 2021 furnished their common reply.
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Source: SecMarx — sebi:Order/PM/PA/2022-23/16206-16208. 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.