sebi:Order/SV/DP/2024-25/30567
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 28A
Regulations
- Reg. 29(1)
- Reg. 2
- Reg. 29(2)
- Reg. 29(3)
Parties
- Dynamic Services & Security Ltd.
Holding
The Noticee violated Regulation 29(1) and Regulation 29(2) read with Regulation 29(3) of the SAST Regulations by non-filing, incorrect filing and delayed filing of disclosures, and a penalty of Rs.12,00,000 under Section 15A(b) of the SEBI Act was imposed.
Full text
Adjudication Order in the matter of Mehai Technology Limited Page 2 of 19 SEBI Act, 1992, to inquire into and adjudge under the provisions of the Section 15A(b) of the SEBI Act, for the following violations alleged to have been committed by the Noticee: 2.1 Regulation 29(1) read with Regulation 29(3) of SAST Regulations 2.2 Regulation 29(2) read with Regulation 29(3) of SAST Regulations
Adjudication Order in the matter of Mehai Technology Limited Page 3 of 19 Date Transaction w.r.t. equity shares of Mehai by the acquirer No. of shares % to total paid up capital Disclosure rqmt. under SAST Due date for compliance Actual date of compliance Description of violation 12.04.2022 Acquisition under SPA 16,50,000 15.41% Reg. 29(2) r/w 29(3) 14.04.2022 - 1 instance of non-filing: acquisition of 16,50,000 shares (15.41%) 18.04.2022 Acquisition under SPA 13,13,000 12.26% Reg. 29(2) r/w 29(3) 20.04.2022 - 1 instance of non-filing: acquisition of 13,13,000 shares (12.26%) 21.04.2022 Acquisition under SPA 18,07,000 16.87% Reg. 29(2) r/w 29(3) 25.04.2022 - 1 instance of non-filing: acquisition of 18,07,000 shares (16.87%) 29.06.2022 Sale 1,00,000 0.93% None NA 27.07.2022 1 instance of non-filing: sale of 8,878 shares (0.08%)
Adjudication Order in the matter of Mehai Technology Limited Page 4 of 19 Date Transaction w.r.t. equity shares of Mehai by the acquirer No. of shares % to total paid up capital Disclosure rqmt. under SAST Due date for compliance Actual date of compliance Description of violation 12.08.2022 Sale 2,09,987 1.96% None NA 18.08.2022 1 instance of incorrect filing: pre-sale shareholding and post-sale shareholding in the disclosure 16.08.2022 Sale 6,722 0.06% Reg. 29(2) r/w 29(3) (cumulativel y 2.02%) 18.08.2022 18.08.2022 22.08.2022 Sale 1,00,000 0.93% None NA NA 1 instance of non-filing: sale of 1,00,000 shares (0.93%)
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