sebi:Order/SR/PP/2019-20/5810/133
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Facts / Headnote
Penalty imposed on Noticee for violation of disclosure requirements
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 13
- Reg. 13(5)
- Reg. 12(2)
Parties
- M Suresh Kumar Reddy
Holding
The Noticee, M Suresh Kumar Reddy, violated regulation 13(4A) read with regulation 13(5) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 by failing to make required disclosures to the company and BSE within two working days of transactions exceeding 25,000 shares in the scrip of Ybrant Digital Limited. A monetary penalty of Rs. 9,00,000/- was imposed under section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication Order in respect of M Suresh Kumar Reddy in the matter of Ybrant Digital Limited . Page 2 of 9 (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as Adjudication Rules, 1995) to inquire into and adjudge under section 15A(b) of SEBI Act, 1992, the alleged violations of provisions of regulation 13(4A) read with (r/w) regulation 13(5) of PIT Regulations, 1992. The appointment was communicated vide communique dated January 28, 2019. Further, PIT Regulations, 1992 have been repealed and SEBI (Prohibition of Insider Trading) Regulations, 2015 have come into force. The present proceedings against the Noticee is initiated in terms of PIT Regulations, 1992 r/w SEBI (Prohibition of Insider Trading) Regulations, 2015 (specifically Regulation 12(2) under the head ‘Repeal and savings’). SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in respect of M Suresh Kumar Reddy in the matter of Ybrant Digital Limited . Page 3 of 9 11 31/12/2014 credit 6722335
Adjudication Order in respect of M Suresh Kumar Reddy in the matter of Ybrant Digital Limited . Page 4 of 9 behalf of the Noticee. The ARs have submitted reply vide letters dated October 16, 2019. The authorized representatives (ARs), Mr. Anil Dubba and Mr. Gade Vinay Babu, Practicing Company Secretary appeared for the personal hearing on behalf of the Noticee. Authority letter issued by Noticee to ARs is on record. The ARs have submitted reply vide letters dated October 16, 2019 during the course of hearing and reiterated the
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Source: SecMarx — sebi:Order/SR/PP/2019-20/5810/133. 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.