sebi:PB/AO-40/2012
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Facts / Headnote
Penalty of Rs. 25,000 imposed under section 15A(b) of SEBI Act for violation of PIT Regulations
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
- ADB Trade Services 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 disclose acquisitions to AVCL within four working days, and is liable to monetary penalty under section 15A(b) of the SEBI Act.
Full text
Page 2 of 14 to as “Competent”) and M/s ADB Trade Services Pvt. Ltd. (hereinafter referred to as “ADB Trade”/“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-40/2012. 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.