sebi:Order/SM/AD/2022-23/16292-16300
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Facts / Headnote
Violations established; monetary penalty imposed under Section 15H of SEBI Act; Noticees directed to remit penalty within 45 days of receipt of order
Provisions invoked
- s. 11B
- s. 15
- s. 15H
- s. 15J
- s. 28A
- s. 23A
- s. 560
Regulations
- Reg. 11
- Reg. 199
- Reg. 2(1)(e)
- Reg. 10
- Reg. 14
- Reg. 14(1)
- Reg. 44
- Reg. 2(1)(b)
- Reg. 11(1)
- Reg. 2(e)
- Reg. 8(2)
- Reg. 201
- Reg. 35
- Reg. 2(1)(e)(2)
- Reg. 22(19)
Parties
- M/s Sanatan Herbals and Naturals Ltd
- M/s Camson Farm Produce P. Limited
- M/s Shashtika Health Resort and Spa P. Limited
- Mr. Karan Singh
- Ms. Geeta Singh
- Ms. Alka Singh
- Mr. Akbal Narayan Singh
- Mr. Veerendra Kumar
- Mr. Dhirendra Kumar
Holding
The Noticees, as acquirers/persons acting in concert, failed to make the required public announcement of offer for acquisition of shares under Regulation 11(1) read with Regulation 14(1) of SAST Regulations, 1997 read with Regulation 35 of SAST Regulations, 2011, thereby violating the said provisions and attracting monetary penalty under Section 15H of the SEBI Act.
Full text
Adjudication Order in the matter of M/s Camson Bio Technologies Ltd. Page 2 of 34 on the Bombay Stock Exchange (hereinafter referred to as "the BSE"). During the investigation, it was observed by the SEBI that M/s Sanatan Herbals and Naturals Ltd (hereinafter referred to as “Noticee 1/By Name”), M/s Camson Farm Produce P. Limited (hereinafter referred to as “Noticee 2/By Name”), M/s Shashtika Health Resort and Spa P. Limited (hereinafter referred to as “Noticee 3/By Name”), Mr. Karan Singh (hereinafter referred to as “Noticee 4/By Name”),Ms. Geeta Singh (hereinafter referred to as “Noticee 5/By Name“) Ms. Alka Singh (hereinafter referred to as “Noticee 6/ By Name”), Mr. Akbal Narayan Singh (hereinafter referred to as “Noticee 7/By Name”)Mr. Veerendra Kumar (hereinafter referred to as “Noticee 8/By Name”) and Mr. Dhirendra Kumar (hereinafter referred to as “Noticee 9/By Name”) ( Noticees 1 to 9 are hereinafter collectively referred to as “Noticees”) being acquirers/persons acting in concert (also referred to as “PACs”), failed in making public disclosure of offer for acquisition of shares, which was required to be made under the provisions of Regulation 11(1) read with Regulation 14(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,1997 (hereinafter referred to as the "SAST Regulations,1997") read with Regulation 35 of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 (hereinafter referred as “SAST Regulations, 2011”).
Adjudication Order in the matter of M/s Camson Bio Technologies Ltd. Page 3 of 34 was appointed as the Adjudication Officer (hereinafter referred to as “AO”) in this matter.
Adjudication Order in the matter of M/s Camson Bio Technologies Ltd. Page 4 of 34 16, 2009, M/s Sanatan Hearbals and Naturals Ltd acquired 9,25,200 shares (5,90,000 shares from Mr. Ram Yadav and 3,35,200 shares from Mr. Veerendra Kumar) whereas M/s Camson Farm Produce P. Ltd. acquired 8,10,540 shares (5,69,600 shares from Ms. Sangeeta K. Shetty and 2,40,940 shares from Mr. Jamuna Prasad). As a result of this acquisition, it is alleged that the total shareholding of PACs at the end of September 2009 was 65,39,070 shares, amounting to 47.73% of the total share capital (1,37,00,000) of the Company, leading to an increase of 10.22% in the total shareholding of PACs.
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Source: SecMarx — sebi:Order/SM/AD/2022-23/16292-16300. 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.