sebi:Order/SR/SM/2020-21/8434/48

SEBI · SEBI · 2017-07-10 · Sangeeta Rathod, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Noticee held liable for violation of regulations 31(1) and 31(2) r/w 31(3) of SAST Regulations, 2011; penalty imposed under section 15A(b) of SEBI Act, 1992

Provisions invoked

s. 15A
s. 15
s. 19
s. 15J
s. 15I
s. 28A
s. 23

Regulations

Reg. 13
Reg. 11
Reg. 3
Reg. 29
Reg. 3(4)
Reg. 31
Reg. 31(1)
Reg. 31(2)
Reg. 31(3)

Parties

Hardeep Singh Bedi

Holding

The Noticee, Hardeep Singh Bedi, was found to have violated regulations 31(1) and 31(2) read with 31(3) of the SAST Regulations, 2011 by failing to make timely disclosures of pledge creation and invocation of pledged shares in Tulip Telecom Ltd. to the stock exchanges and the target company. The AO rejected the Noticee's contention regarding delay in issuance of the SCN and proceeded to determine penalty quantum under section 15J.

Full text

Adjudication Order in respect of Hardeep Singh Bedi in the matter of Pipavav Defence & Offshore Engineering Company Ltd., Parsvanath Developers Ltd.,Goldyne Technoserve Ltd. and Tulip Telecom Ltd.

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Source: SecMarx — sebi:Order/SR/SM/2020-21/8434/48. 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.