sebi:Order/SM/DD/2022-23/18016
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Facts / Headnote
Violation established; penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 7(2)(a)
Parties
- Mr. Nagaraja Ravichandran
Holding
Noticee violated Regulation 7(2)(a) of PIT Regulations on four occasions by failing to disclose trades exceeding Rs. 10 lakh and is liable for monetary penalty under Section 15A(b) of SEBI Act. A penalty of Rs. 1,00,000 was imposed.
Full text
Adjudication Order in respect of Mr. Nagaraja Ravichandran in the matter of Titan Company Ltd. Page 2 of 10 ‘SEBI Act’) for alleged violation of Regulation 7(2)(a) of PIT Regulations by Noticee.
Adjudication Order in respect of Mr. Nagaraja Ravichandran in the matter of Titan Company Ltd. Page 3 of 10 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.
Adjudication Order in respect of Mr. Nagaraja Ravichandran in the matter of Titan Company Ltd. Page 4 of 10 e. He was also not aware that he had to inform the transaction exceeding Rs.10 Lakh to the company.
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Source: SecMarx — sebi:Order/SM/DD/2022-23/18016. 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.