sebi:PKB/AO-124/2009
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Facts / Headnote
Disposed of without imposing any monetary penalty
Provisions invoked
- s. 15A
- s. 15
Regulations
- Reg. 199
- Reg. 8(2)
- Reg. 6(3)
Parties
- Smt. Sadhana
Holding
The adjudication proceedings against Smt. Sadhana for delayed compliance with Regulation 6(3) for 1997 and Regulation 8(2) for 2000 of the SAST Regulations were disposed of without imposing any monetary penalty.
Full text
Adjudication Order in respect of Smt.. Sadhana in the matter of Madan Financial Services Limited Page 2 of 6 9/30/2009 shareholders of the company to acquire 10,00,000 shares (representing 20% of the voting equity share capital of the company ).
Adjudication Order in respect of Smt.. Sadhana in the matter of Madan Financial Services Limited Page 3 of 6 9/30/2009 the number and percentage of shares or voting rights held by him and by persons acting in concert with him, in that company to the company.
Adjudication Order in respect of Smt.. Sadhana in the matter of Madan Financial Services Limited Page 4 of 6 9/30/2009 (d) As regards the small delay in the compliance of regulations by Mr. Madan Chand Darda, I understand that SEBI has already initiated adjudication proceedings against him and he has opted for consent under relevant circular of SEBI dated 20.4.2007. (e) Hence in view of this submission , I request you that there is no need for any separate enquiry for the alleged offence , considering the minor nature of offence and also considering fact that the sufficient information was already provided by Mr. Madan Chand Darda to the company by including names of all promoters in his disclosure.
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Source: SecMarx — sebi:PKB/AO-124/2009. 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.