sebi:Order/SM/DP/2022-23/22673
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Facts / Headnote
Violation found; penalty of Rs. 2,00,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 199
- Reg. 29(1)
- Reg. 29(2)
- Reg. 29(3)
Parties
- Shri Ashok Kumar Saburbhai Chavda
Holding
The Noticee violated Regulations 29(1) and 29(2) read with Regulation 29(3) of the SAST Regulations and was held liable for a total monetary penalty of Rs. 2,00,000 under Section 15A(b) of the SEBI Act, 1992.
Full text
In the matter of Purple Entertainment Limited Page 2 of 10 adjudge under Section 15A(b) of SEBI Act, the violation of Regulations 29(1) and 29(2) read with Regulation 29(3) of SAST Regulations.
In the matter of Purple Entertainment Limited Page 3 of 10 Regulations, Noticee was required to make a disclosure to the company and the stock exchange within two working days of such acquisition of shares.
In the matter of Purple Entertainment Limited Page 4 of 10 CONSIDERATION OF ISSUES AND EVIDENCE 8. I have carefully perused the charges levelled against the Noticee in the SCN and the material / documents available on record. In the instant matter, the following issues arise for consideration and determination: -
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