sebi:Order/SM/DD/2022-23/16264
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed on Noticee under Section 15A(b) of SEBI Act for violation of Regulation 7(2)(a) of PIT Regulations
Provisions invoked
- s. 11B
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 7(2)(a)
Parties
- Mr. Mathalai Manikandan
Holding
Noticee, an employee of Titan, violated Regulation 7(2)(a) of PIT Regulations on three occasions by failing to disclose trades exceeding Rs. 10 lakh and is liable to monetary penalty under Section 15A(b) of SEBI Act. A penalty of Rs. 1,00,000 is imposed on Mr. Mathalai Manikandan.
Full text
Page 2 of 9 and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’) for alleged violation of Regulation 7(2)(a) of PIT Regulations by Noticee.
Page 3 of 9 Rs 15,57,788/- and in the calendar quarter ended December 2018, the total traded value of the securities traded by Noticee in the scrip of Titan was Rs. 27,07,350/-. It was observed that on three (3) occasions in the aforesaid calendar quarters, Noticee’s traded value of securities in Titan exceeded rupees ten lakhs. Therefore, for the aforesaid 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.
Page 4 of 9 c. He undertook not to repeat this. CONSIDERATION OF ISSUES, EVIDENCE AND FINDINGS 9. I have carefully perused the charges levelled against Noticee, replies/submissions filed by Noticee and other documents/ evidence available on record. The issues that arise for consideration in the present case are:
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Source: SecMarx — sebi:Order/SM/DD/2022-23/16264. 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.