sebi:PB/AO-39/2012
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Facts / Headnote
Penalty imposed on Noticee for violation of PIT Regulations disclosure requirements
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7(1)
- Reg. 13
- Reg. 13(1)
- Reg. 13(3)
- Reg. 13(5)
- Reg. 7(2)
Parties
- M/s Jas Expoship Pvt. Ltd.
Holding
The Noticee violated regulation 13(1) and regulation 13(3) read with regulation 13(5) of the PIT Regulations by failing to make required disclosures to AVCL within four working days of crossing the 5% threshold and of subsequent changes exceeding 2%, and a monetary penalty of Rs. 25,000 was imposed under section 15A(b) of the SEBI Act.
Full text
Page 2 of 14 referred to as “Competent”) and M/s Jas Expoship Pvt. Ltd. (hereinafter referred to as “Jas Expoship”/“Noticee”) had increased their shareholding in AVCL through off market transactions from 19.59% to 60.50% in the year
Page 3 of 14 2. The findings of the examination led to the allegation that the Noticee had violated regulation 13(1) & regulation 13(3) read with regulation 13(5) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as ‘PIT Regulations’) and therefore consequently, liable for monetary penalty under section 15A(b) of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 4 of 14 application for consent as prescribed by SEBI vide its circular no. EFD/ED/Cir-1/2007 dated April 20, 2007.
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Source: SecMarx — sebi:PB/AO-39/2012. 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.