sebi:Order/SRP/AE/2018-19/67
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Settlement application allowed; adjudication proceedings disposed of
Provisions invoked
- s. 15A
Regulations
- Reg. 17
- Reg. 25
- Reg. 23(1)
- Reg. 15(1)
- Reg. 30(3)
- Reg. 30(1)
Parties
- Parag J Dalal
Holding
The Adjudicating Officer ordered that the settlement order disposes of the adjudication proceedings initiated against Shri Parag J Dalal for alleged violations of Regulations 30(1) and 30(2) read with Regulation 30(3) of the SAST Regulations, 2011, on payment of the summary settlement amount of Rs. 2,14,433/-.
Full text
Settlement Order in respect of Parag J Dalal in the matter of Dynacons Technologies Ltd Page 1 of 4 BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA, MUMBAI SETTLEMENT ORDER NO. Order/SRP/AE/2018-19/67 SETTLEMENT ORDER On the Application No. 3609/2018
Settlement Order in respect of Parag J Dalal in the matter of Dynacons Technologies Ltd Page 2 of 4 representing 26% of the paid up capital of DTL at a price of Rs. 1.30 per share. Further, it was stated that while examining the Letter of Offer filed pursuant to the afore-mentioned public announcement, it was observed that the Applicant, alongwith Shri Shirish M. Anjaria, Shri Dharmesh S. Anjaria, Smt. Nilam S. Anjaria, Smt. Jigna D. Anjaria, Shirish M. Anjaria HUF, Smt. Devangi Parag Dalal, Smt. Hasumati Dalal, Parag J Dalal HUF, Dynacons Systems and Solutions Limited, and Trigem Infosolutions Limited were the promoter and promoter group entities of DTL during the relevant period, and that they had allegedly not complied with the provisions of Regulations 30(1) and 30(2) read with Regulation 30(3) of SAST Regulations, 2011 within the due date for the financial years ended March 31, 2013 and March 31, 2014. The details of the alleged non-compliances by the promoter and promoter group entities in the tabular form is given below - Sr. No. Provision of SAST Regulations, 2011 Due date of compliance Actual date of compliance Delay (in no. of days) 1 30(1) and 30 (2) read with 30 (3) 09.04.2013 10.02.2014 307 2 30(1) and 30 (2) read with 30 (3) 10.04.2014 29.04.2014 19
Settlement Order in respect of Parag J Dalal in the matter of Dynacons Technologies Ltd Page 3 of 4 to as the “Settlement Regulations, 2014”), received by SEBI on August 01, 2018 along with application for condonation of delay and other documents. The terms of settlement proposed by the Applicant and other entities forming part of promoter and promoter group was to settle the aforementioned adjudication proceedings initiated against them on payment of a sum of Rs. 2,00,000/- (Rupees Two Lakh Only) to be paid jointly and severally. It is noted that the Applicant vide undertaking dated February 05, 2018 submitted along with the settlement application has inter alia stated that “We neither admit nor deny the
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/SRP/AE/2018-19/67. 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.