sebi:Order/SM/DD/2022-23/18386
Facts / Headnote
Penalty of Rs. 1,00,000 imposed under Section 15A(b) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations relied on
- SEBI (PIT) Regulations, 2015 — 7(2)(a)
Parties
- Vijendra Bisht
Holding
Noticee violated Regulation 7(2)(a) of PIT Regulations on five occasions by failing to disclose trades exceeding Rs. 10 lakh. A monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act was imposed on Mr. Vijendra Bisht.
Full text
Adjudication Order in respect of Vijendra Bisht 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 Vijendra Bisht in the matter of Titan Company Ltd. Page 3 of 10 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 Vijendra Bisht in the matter of Titan Company Ltd. Page 4 of 10 e. He did not have any intention to violate PIT Regulations or Code of Conduct by any means at the time of the transactions.
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