sebi:Order/SR/SM/2020-21/9346

SEBI · SEBI · 2020-02-28 · Sangeeta Rathod, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty imposed

Provisions invoked

• s. 15A
• s. 15
• s. 15J
• s. 28A
• s. 23

Regulations relied on

• SEBI (PIT) Regulations, 1992 — 13(4)
• SEBI (PIT) Regulations, 1992 — 13(4a)
• SEBI (PIT) Regulations, 1992 — 13(5)
• SEBI (PIT) Regulations, 2015 — 12(2)

Parties

• Asha Khadaria

Holding

The Noticee violated regulations 13(4) & 13(4A) read with 13(5) of PIT Regulations, 1992 read with regulation 12(2) of PIT Regulations, 2015 by failing to make timely disclosures for transactions on November 09, 2011 and November 25, 2011, and by making delayed disclosure to BSE for the transaction on January 17, 2012. A penalty of Rs. 3,00,000/- was imposed under section 15A(b) of the SEBI Act, 1992.

Full text

Adjudication Order in respect of Asha Khadaria in the matter of Nouveau Global Ventures Ltd. Page 2 of 13 alleged violations of the Noticee appointed Ms. Sangeeta Rathod (undersigned) as Adjudicating Officer (in short AO), under section 15-I of the SEBI Act, 1992 r/w rule 3 of Securities and Exchange Board of India (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 the SEBI Act, 1992, the alleged violations of provisions of regulation 13(4) & 13(4A) r/w 13(5) of PIT Regulations, 1992 r/w regulation 12(2) of PIT Regulations, 2015. This was conveyed to me vide communique dated February 28, 2020.

Adjudication Order in respect of Asha Khadaria in the matter of Nouveau Global Ventures Ltd. Page 3 of 13 till September 24, 2020 to submit the information/documents. Hearing minutes are on record. Noticee vide e-mail September 28, 2020 submitted the additional information. Proof of delivery of all the outgoing e-mails mentioned herein from the Adjudicating Officer, is available on record.

Adjudication Order in respect of Asha Khadaria in the matter of Nouveau Global Ventures Ltd. Page 4 of 13 17.01.2012, OD observed that Noticee did not make the disclosure to BSE within the prescribed time as specified in the said Regulations. Hence, it is alleged that Noticee violated the provisions of regulations 13(4), 13(4A) r/w 13(5) of PIT Regulations, 1992.

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