sebi:PB/AO-135/2010
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Facts / Headnote
Violation established; monetary penalty of Rs 25,000 imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 8(3)
- Reg. 8(1)
Holding
The Noticee violated Regulation 8(3) of the SAST Regulations for the financial years 2004 and 2007 by making yearly disclosures with delays of about six months, and is liable to a monetary penalty of Rs 25,000 under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 9 regulation 8(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as “SAST Regulations”) for the years 2004 and 2007 respectively.
Page 3 of 9 6. The aforesaid SCN was received and acknowledged by the Noticee on August 13, 2010. The Noticee replied to the SCN vide letter dated August 24, 2010. the Notice requested to grant an opportunity of personal hearing. The Noticee in its reply dated August 24, 2010 inter- alia stated:
Page 4 of 9 Noticee once again reiterated the submissions made vide letter dated August 24, 2010. CONSIDERATION OF ISSUES AND FINDINGS
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Source: SecMarx — sebi:PB/AO-135/2010. 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.