sebi:Order/SM/DD/2022-23/18448
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed on Noticee under Section 15A(b) of SEBI Act 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
- Mr. Kuldeep Singh Yadav
Holding
Noticee, an employee of Titan Company Ltd., violated Regulation 7(2)(a) of PIT Regulations on five occasions by failing to disclose trades exceeding Rs. ten lakhs, and is liable to a monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Mr. Kuldeep Singh Yadav 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 Mr. Kuldeep Singh Yadav in the matter of Titan Company Ltd. Page 3 of 10 scrip of Titan was Rs 98,98,063/-. It was also observed that on 5 occasions in the aforesaid calendar quarter, Noticee’s traded value of Titan 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 Mr. Kuldeep Singh Yadav in the matter of Titan Company Ltd. Page 4 of 10 CONSIDERATION OF ISSUES, EVIDENCE AND FINDINGS
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