sebi:PM/NR/2021-22/12491
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 12
- s. 15H
- s. 15I
- s. 15G
- s. 15J
Regulations
- Reg. 9
- Reg. 4
- Reg. 4(1)
- Reg. 2(1)(g)
- Reg. 9(1)
- Reg. 2(1)(n)
Parties
- Prateek Sarawgi
Holding
The Noticee, while in possession of UPSI regarding financial results for QE December 2016, traded in Infosys scrip in violation of Section 12A(d) and 12A(e) read with Regulation 4(1), and as a Designated Person traded during trading window closure in violation of Clause 4 of Schedule B Code of Conduct, and was held liable for monetary penalty under Sections 15G and 15HB.
Full text
Adjudication Order in respect of Prateek Sarawgi in the matter of Infosys Ltd., Page 2 of 14 it was observed that the Noticee had traded in the scrip of Infosys when the trading window was closed. Therefore, it is alleged that the Noticee being a Designated Person of Infosys by trading in the scrip of Infosys when the trading window was closed had violated the provisions of Clause 4 of the Code of Conduct prescribed under Schedule B of Regulation 9(1) and (2) of the SEBI (PIT) Regulations, 2015. APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Prateek Sarawgi in the matter of Infosys Ltd., Page 3 of 14 25, 2021. I note that the notice did not appear for the hearing on the scheduled date.
Adjudication Order in respect of Prateek Sarawgi in the matter of Infosys Ltd., Page 4 of 14 CONSIDERATION OF ISSUES 11. I have taken into consideration the facts and material available on record. The charge against the Noticee is that he traded in the scrip of Infosys while in possession of Unpublished Price Sensitive Information regarding financial results for QE December 2016 and during the trading window closure while being the Designated Person of the Company.
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Source: SecMarx — sebi:PM/NR/2021-22/12491. 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.