sebi:Order/SM/DD/2022-23/18387
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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
- Reg. 7(2)(a)
Parties
- Jayprakash Kumar
Holding
Noticee violated Regulation 7(2)(a) of PIT Regulations on six occasions by failing to disclose trades exceeding Rs. 10 lakh and is liable to monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Jayprakash Kumar 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 Jayprakash Kumar in the matter of Titan Company Ltd. Page 3 of 10 securities traded by Noticee was Rs. 27,20,967/- . It was also observed that on 6 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 Jayprakash Kumar in the matter of Titan Company Ltd. Page 4 of 10 d. The above transactions were part of his trading activities in Titan to get some value appreciation as a general investor and he had traded in other scrips also. e. He undertook to abide by all rules laid down by regulators in future.
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Source: SecMarx — sebi:Order/SM/DD/2022-23/18387. 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.