sebi:PB/AO-136/2010
Facts / Headnote
Violation established; monetary penalty of Rs. 25,000 imposed on the Noticee
Provisions invoked
- s. 15
- s. 15J
Regulations relied on
- SEBI (SAST) Regulations, 1997 — 44
Holding
The Noticee failed to comply with the Board's direction to make the public announcement within two weeks of BSE listing and is liable for monetary penalty under section 15HB of the SEBI Act, with a penalty of Rs. 25,000 imposed.
Full text
Page 2 of 9 2. Securities and Exchange Board of India (hereinafter referred to as “Board”) examined the letter of offer pertaining to the aforesaid cash offer and observed that the Noticee had failed to comply with the direction issued by the Board under sections 11 and 11B of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”) read with regulations 44 and 45 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as “SAST Regulations”)
Page 3 of 9 Regulations for making full disclosures of all material facts including subsequent developments and offer the revised price. As per the said
Page 4 of 9 written submissions in the matter, which was acceded to. The AR also requested that a lenient view be taken in the matter.
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Source: SecMarx — sebi:PB/AO-136/2010. 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.