sebi:Order/SM/DD/2021-22/15329
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Facts / Headnote
Violation established; penalty of Rs. 1,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 7(2)(a)
Parties
- Mr. C. Santosh Kumar
Holding
The Noticee, an employee of Titan Company Ltd., violated Regulation 7(2)(a) of PIT Regulations on four occasions by failing to disclose trades exceeding Rs. 10 lakh, and was held liable for monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Mr. C. Santosh Kumar in the matter of Titan Company Ltd. Page 2 of 9 ‘SEBI Act’) for alleged violation of Regulation 7(2)(a) of PIT Regulations by Noticee.
Adjudication Order in respect of Mr. C. Santosh Kumar in the matter of Titan Company Ltd. Page 3 of 9 Therefore, for the aforesaid four (4) 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 Mr. C. Santosh Kumar in the matter of Titan Company Ltd. Page 4 of 9 d. He undertook to not trade in Titan securities without proper information to Management.
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Source: SecMarx — sebi:Order/SM/DD/2021-22/15329. 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.