sebi:Order/SM/DD/2022-23/18390
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Facts / Headnote
Penalty imposed on Noticee for violation of Regulation 7(2)(a) of PIT Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 7(2)(a)
Parties
- Sridhar K
Holding
The Adjudicating Officer held that Noticee Mr. Sridhar K violated Regulation 7(2)(a) of the PIT Regulations on five occasions by failing to disclose transactions in Titan securities exceeding ten lakh rupees, and imposed a penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Sridhar K in the matter of Titan Company Ltd. Page 2 of 10 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.
Adjudication Order in respect of Sridhar K in the matter of Titan Company Ltd. Page 3 of 10 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 Sridhar K in the matter of Titan Company Ltd. Page 4 of 10 CONSIDERATION OF ISSUES, EVIDENCE AND FINDINGS
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