sebi:PG/AO/SPV/76/2012
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Facts / Headnote
Violation found; monetary penalty imposed
Provisions invoked
- s. 15
- s. 12A
- s. 15G
- s. 15J
Regulations
- Reg. 3
- Reg. 3(i)
- Reg. 2
- Reg. 2(c)
- Reg. 2(e)
Parties
- T.A.N. Murti
Holding
The Noticee, an insider in possession of unpublished price sensitive information about SCSL's acquisition of MIL and MPL, violated Regulation 3(i) of PIT Regulations read with Section 12A(d) and (e) of SEBI Act by selling 14,500 shares on December 15, 2008, and a penalty of Rs 65,00,000 under Section 15G was imposed.
Full text
Adjudication order in respect of TAN Murti in the matter of SCSL Page 2 of 13 some 80 clients sold shares before January 7, 2009. The trading window was closed from December 17, 2008 and stayed closed till June 12, 2009. On December 17, 2008 the price of the scrip fell to a low of ` 151, i.e 33.5% fall from previous close price but after the cancellation of decision of acquisition, it recovered marginally to close at ` 157.10 on NSE.
Adjudication order in respect of TAN Murti in the matter of SCSL Page 3 of 13 Show Cause Notice, Reply & Personal hearing
Adjudication order in respect of TAN Murti in the matter of SCSL Page 4 of 13 November 12, 2012 for filing additional submissions. The noticee submitted additional submissions vide letter dated November 09, 2012.
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Source: SecMarx — sebi:PG/AO/SPV/76/2012. 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.