sebi:Order/SM/DD/2022-23/18345
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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
- Sarvesh Agarwal
Holding
The Noticee, an employee of Titan Company Ltd., violated Regulation 7(2)(a) of the PIT Regulations on four occasions by failing to disclose trades exceeding Rs. 10 lakh, and was held liable for a monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Sarvesh Agarwal in the matter of Titan Company Ltd. Page 2 of 10 to as ‘SEBI Act’) for alleged violation of Regulation 7(2)(a) of PIT Regulations by Noticee.
Adjudication Order in respect of Sarvesh Agarwal in the matter of Titan Company Ltd. Page 3 of 10 securities traded by Noticee was Rs. 33,37,350/- . It was also observed that on 4 occasions in the aforesaid calendar quarters, Noticee’s traded value of securities 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.
Adjudication Order in respect of Sarvesh Agarwal in the matter of Titan Company Ltd. Page 4 of 10 d. He had traded in other securities also but now had stopped transacting in Titan shares and undertook to stop these trading which were not in conformity with prescribed rules and regulations.
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Source: SecMarx — sebi:Order/SM/DD/2022-23/18345. 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.