sebi:PB/AO-71/2011
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Facts / Headnote
Allegation not established; matter disposed of without penalty
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(3)
- Reg. 5
- Reg. 13(5)
- Reg. 13(5)(b)
Holding
The alleged violation of regulation 13(3) read with regulation 13(5) of the PIT Regulations by the Noticee was held not established and the matter arising from SCN dated May 27, 2011 was disposed of.
Full text
Page 2 of 8 APPOINTMENT OF ADJUDICATING OFFICER 3. The undersigned has been appointed as Adjudicating Officer vide order dated March 23, 2011 under section 15 I of SEBI Act read with rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the alleged violations of provisions of PIT Regulations.
Page 3 of 8 Noticee had violated the provisions of regulation 13(3) read with regulation 13(5) of PIT Regulations. 5. The Noticee vide letter dated July 02, 2011 submitted its reply to the SCN, which inter alia stated as under:
Page 4 of 8 As per regulation 13(3) read with regulation 13(5)(b) disclosure is to be filed when the acquisition or sale of shares or voting rights, as the case may be. In our case we had sold 1,00,491 shares in June 2007 which is 0.69% of the capital of the company.
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Source: SecMarx — sebi:PB/AO-71/2011. 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.