sebi:Order/SM/DD/2021-22/14830
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed on Noticee under Section 15A(b) of SEBI Act, payable within 45 days
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 7(2)(a)
Parties
- Atthattampalayam Palanisamy Kumarsamy
Holding
The Noticee, being an employee of Titan Company Ltd., violated Regulation 7(2)(a) of the PIT Regulations on three occasions by failing to disclose trades exceeding Rs. 10 lakh. The Adjudicating Officer imposed a monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Atthattampalayam Palanisamy Kumarsamy in the matter of Titan Company Ltd. Page 2 of 10 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Atthattampalayam Palanisamy Kumarsamy in the matter of Titan Company Ltd. Page 3 of 10 lakhs. Therefore, for the aforesaid three (3) transactions, which were in excess of the limit specified in Regulation 7(2)(a) of PIT Regulations, Noticee was required to make disclosure in terms of the aforesaid Regulation. In this regard, in reply to a query by SEBI, TCL vide email dated October 28, 2020, confirmed that it had not received any disclosures from Noticee.
Adjudication Order in respect of Atthattampalayam Palanisamy Kumarsamy in the matter of Titan Company Ltd. Page 4 of 10 c. He does not have any direct or indirect communication from the company about financial results/ plans in advance to perform any investment or trading. d. He was not aware about PIT Regulations e. While trading in the option segment of Titan scrips, he had incurred a loss of rupees 4,500/-. Subsequently, he had never traded in the shares of Titan
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Source: SecMarx — sebi:Order/SM/DD/2021-22/14830. 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.