sebi:Order/SR/PP/2019-20/6204/142
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Facts / Headnote
Adjudication proceedings disposed of without imposing any monetary penalty; allegations in the SCN not established.
Provisions invoked
- s. 15A
- s. 15
- s. 12A
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 11
- Reg. 3
- Reg. 4(1)
- Reg. 199
- Reg. 2(1)(e)
- Reg. 10
- Reg. 200
- Reg. 11(1)
- Reg. 3(a)
- Reg. 32
- Reg. 2(1)(e)(1)
- Reg. 44
Parties
- Ramesh Dwarkadas Daga
Holding
The allegations in the SCN against Ramesh Dwarkadas Daga under regulations 7(1A) and 11(1) of SAST Regulations and sections 12A(a), (b), (c) of SEBI Act r/w PFUTP Regulations were not established, and the adjudication proceedings were disposed of without any monetary penalty.
Full text
Adjudication Order in respect of Ramesh Dwarkadas Daga in the matter of Incap Financial Services Ltd. Page 2 of 13 . 2. On the basis of the aforementioned complaint, a department of SEBI (OD) undertook an investigation in the matter for the period from December 1, 2010–February 23, 2011 (Investigation period / IP) to ascertain whether there was any violation of the provisions of the SEBI Act, 1992 (SEBI Act), the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (PFUTP Regulations 2003), the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 1997 (SAST Regulations). The shares of Incap were listed at BSE Limited (BSE).
Adjudication Order in respect of Ramesh Dwarkadas Daga in the matter of Incap Financial Services Ltd. Page 3 of 13 . Regulations, sections 12A(a), (b) & (c) of SEBI Act r/w regulations 3(a), (b), (c) & (d) and 4(1), 4(2)(a) of PFUTP Regulations, 2003 by the Noticee. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in respect of Ramesh Dwarkadas Daga in the matter of Incap Financial Services Ltd. Page 4 of 13 . comply with the provisions of regulation 11(1) of the SAST Regulations. Further, it is alleged that Noticee has failed to make disclosure for change in shareholding as PAC as required under regulation 7(1A) of SAST Regulations.
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Source: SecMarx — sebi:Order/SR/PP/2019-20/6204/142. 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.