sebi:QJA/KS/IVD/ID4/27867/2023-24
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Facts / Headnote
Show-cause notices disposed of without any directions
Provisions invoked
- s. 11
- s. 19
- s. 12A
- s. 15G
- s. 11B(2)
- s. 139
- s. 11B(1)
Regulations
- Reg. 3
- Reg. 2(1)(e)
- Reg. 4(1)
- Reg. 2(1)(d)
- Reg. 2(1)(g)
- Reg. 2(1)(d)(i)
- Reg. 3(1)
- Reg. 2(1)(n)
- Reg. 3(2)
- Reg. 2(n)
Parties
- Noticee No. 1
- Noticee No. 2
- Noticee No. 3
Holding
The SCN against Noticees 1, 2 and 3 was disposed of without any directions, as the flash report dated January 01, 2021 was not UPSI, no communication of UPSI was proved, and the trading pattern of Noticees 2 and 3 was not unusual.
Full text
Order in the matter of Havells India Limited Page 2 of 21 a. Noticee No. 1 is promoter and one of the directors of HIL. Mr. Ameet Kumar Gupta is son of the Noticee No.1 and promoter director of HIL. The Noticee No.1 and Mr. Ameet Kumar Gupta stayed at the same address. Noticee No. 2 is son in law of Noticee No 1 and brother in law of Mr. Ameet Kumar Gupta. Noticee No.3 is father of the Noticee No.2 and they resided together at the same place.
Order in the matter of Havells India Limited Page 3 of 21 e. Noticee No 1 and Mr. Ameet Kumar Gupta were connected person in terms of regulation 2(1)(d) of the PIT Regulations and insider in terms of Regulation 2(1)(g) of the PIT Regulations.
Order in the matter of Havells India Limited Page 4 of 21 Noticee No. 2 and traded in the scrip of HIL on the basis of and while in possession of UPSI, thereby, the Noticee No. 3 violated provisions of Sections 12A(d) and (e) of SEBI Act and Regulation 3(2) and 4(1) of PIT Regulations;
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Source: SecMarx — sebi:QJA/KS/IVD/ID4/27867/2023-24. 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.