sebi:PB/AO/117-120/2010
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Monetary penalty imposed on the four Noticees for violations of the SEBI (Prohibition of Insider Trading) Regulations, 1992
Provisions invoked
- s. 15
- s. 370
- s. 15H
- s. 15G
- s. 15J
- s. 307
- s. 372
- s. 12
- s. 4A
- s. 2(13)
- s. 291
- s. 3(42)
- s. 307(10)
- s. 372(11)
Regulations
- Reg. 4
- Reg. 12(1)
- Reg. 3
- Reg. 12
- Reg. 2
- Reg. 2(c)
- Reg. 2(e)
- Reg. 2(h)
- Reg. 12(2)
- Reg. 2(k)
- Reg. 3A
- Reg. 2(h)(i)
- Reg. 3(A)
Parties
- Matangi Traders & Investors Limited
- Marley Foods Private Limited
- AKJ
- GLJ
Holding
The Noticees (GLJ, AKJ, Marley, and Matangi) were found to be insiders who traded in FCGL shares while in possession of unpublished price sensitive information regarding FCGL's disposal of its investment in GNCL, in violation of regulations 3(i), 3(ii), 3A read with regulation 4 of the PIT Regulations, and GLJ and AKJ additionally violated clause 2.1 of the Code of Corporate Disclosure Practices under regulation 12(2); monetary penalties were imposed under sections 15G and 15HB of the SEBI Act.
Full text
Page 2 of 38 in the shares of FCGL. The investigation covered the period from September 05, 2005 to September 21, 2005 (hereinafter referred as ‘Investigation Period’).
Page 3 of 38 total income has increased from ` 76.29 million for quarter ending June 30, 2005 to ` 1185.65 million for the quarter ending September 30, 2005. On the basis of information about disposal of investment, two PACs, namely, Marley had purchased 3,00,000 shares of FCGL and Matangi had purchased 50,000 shares of FCGL, in the quarter ending September 2005.
Page 4 of 38 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 7. Show Cause Notice/s dated July 01, 2009 (hereinafter referred to as “SCN”) was issued to the Noticees under Rule 4 of the Rules to show cause as to why an inquiry should not be initiated against them and
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Source: SecMarx — sebi:PB/AO/117-120/2010. 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.