sebi:Order/SR/SM/2019-20/6037/138
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Facts / Headnote
Penalty imposed on Noticee for violation of PIT Regulations; SAST Regulations violation not established
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 11
- Reg. 199
- Reg. 13(4)
- Reg. 12
- Reg. 7(2)
- Reg. 201
- Reg. 35
Parties
- Sanjay Chandra
Holding
The Noticee violated regulations 13(4) read with 13(5) of the PIT Regulations, 1992 (read with regulation 12 of PIT Regulations, 2015) by failing to disclose changes in shareholding exceeding 25,000 shares, and a penalty of Rs. 2,00,000 was imposed under section 15A(b) of the SEBI Act, 1992. The Noticee was held not to have violated regulations 7(1A) read with 7(2) of the SAST Regulations, 1997.
Full text
Adjudication Order in respect of Sanjay Chandra in the matter of Unitech Limited Page 2 of 14 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Sanjay Chandra in the matter of Unitech Limited Page 3 of 14 Date Particulars Change in no. of shares Change as % of company' s share capital Cumula tive Change Balance shares % of share capital Increase Decrease 1-Oct-08 Opening balance as on 01/10/2008 - - - - 66894880 4.12% 22-Nov-08 Invocation of pledged shares by Deutsche Investment India Pvt Ltd - -600000 -0.04% -0.04% 66294880 4.08% 4-Dec-08 Transfer by Deutsche Investment India Pvt Ltd 600000 - 0.04% 0.00% 66894880 4.12%
Adjudication Order in respect of Sanjay Chandra in the matter of Unitech Limited Page 4 of 14 hearing notice were uploaded on SEBI website under the head “Home>>Enforcement>>Unserved Summons/Notices. Further, a Public Notice was also given in Times of India, and Dainik Jagaran (Delhi Edition). The said publication advised the Noticee to submit its reply within 14 days from the date of publication and to appear for Personal Hearing on September 24, 2018. However, Noticee neither submitted any reply to the SCN nor attended the hearing as scheduled on September 24, 2018. Having received no reply from Noticee after having exhausted all stipulated modes of delivery as specified under rule 7 of Adjudication Rules. 1995, as an additional mode of delivery, vide letter dated October 15, 2019, SCN was sent to the Company. Addresses of Company where SCN was sent are “Basement - 6, Community Centre, Saket, New Delhi – 110017” and “13th Floor, Tower B, Signature Tower South City-I, Gurugram-122001, Haryana” advising the Company to deliver the said SCN to its promoter i.e. the Noticee and provide the acknowledgement receipt of the same. The said addresses of the Company were taken from websites of Ministry of Corporate Affairs. The said letters dated October 15, 2019 were delivered to the company as checked from website of India post office and in this regard, no reply received from the Company/Noticee till date. Neither did the Noticee appear on the scheduled date for personal hearing, no
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Source: SecMarx — sebi:Order/SR/SM/2019-20/6037/138. 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.