sebi:Order/SM/AR/2018-19/2556
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Facts / Headnote
Penalty imposed on Noticee for violations of PFUTP, SAST, and PIT Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 7(1)
- Reg. 13
- Reg. 4(1)
- Reg. 13(3)
- Reg. 3(a)
- Reg. 7(2)
- Reg. 3(a)(b)(c)
Parties
- S Jayalakshmi
Holding
The Noticee S Jayalakshmi was held to have violated Regulations 3(a)(b)(c)(d), 4(1) and 4(2)(e) of the PFUTP Regulations, Regulation 7(1) of the SAST Regulations, and Regulation 13(3) of the PIT Regulations, and a total penalty of Rs. 3,00,000 was imposed.
Full text
Page 2 of 27 of the alleged role of the Noticee in increasing the scrip price of AFHL, it is alleged that Noticee has violated the provisions of Regulations 3, 4(1), and 4(2)(e) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’). It is further observed that the Noticee had allegedly failed to comply with the disclosure requirements specified under the provisions of Regulation 7(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as 'SAST Regulations') and also under the provisions of Regulation 13(3) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as 'PIT Regulations') w.r.t her transactions in the scrip of AFHL during the investigation period.
Page 3 of 27 company under Regulation 13(3) of the PIT Regulations as a result of change in her shareholding in AFHL by more than 2% of the total shareholding of the company during the period June 2009 to September 2009. However, it is alleged that Noticee has failed to make the requisite disclosures under the abovementioned provisions of law.
Page 4 of 27 on her under the provisions of sections 15HA and 15A(b) of the SEBI Act for the aforementioned alleged violation of the relevant provisions of law by the Noticee. The said SCN alleged the following with respect to the trading/dealings of the Noticee in the scrip of AFHL:-
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Source: SecMarx — sebi:Order/SM/AR/2018-19/2556. 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.