sebi:QJA/VS/IVD/ID6/25087/2022-23
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Facts / Headnote
Proceedings disposed of without issuance of any directions and without imposing any monetary penalty
Provisions invoked
- s. 19
- s. 11(1)
- s. 15G
Regulations
- Reg. 4(1)
- Reg. 2(1)(d)
- Reg. 2(1)(g)
- Reg. 2(1)(d)(i)
- Reg. 2(1)(n)(i)
- Reg. 3(1)
- Reg. 3(2)
- Reg. 4(2)
- Reg. 2(n)
Parties
- Mrs. Gottumukkala Subha Satya Pramila (Noticee No. 1)
- Mr. G V Raghava Raju (Noticee No. 2)
Holding
The financial results of AFF for the quarter ended September 30, 2017 constituted unpublished price sensitive information (UPSI) from October 3, 2017 to November 14, 2017, but the Noticees could not be established as 'insiders' on the material available on record, and therefore the proceedings were disposed of without any directions or penalty.
Full text
Order in the matter of Apex Frozen Foods Ltd. Page 2 of 23 1. Background of the Case: 1.1 Apex Frozen Foods Ltd (hereinafter referred to as “AFF” or “Company”) disclosed its financial results for the quarter ended September 30, 2017 on November 14, 2017 on BSE at 16:36 hrs. and on NSE at 16:45 hrs. respectively. It was observed from the said financial results that AFF made a profit of ₹ 2,204.32 lakh in the quarter ended September 2017 as against the profit of ₹1,664 lakh in the previous quarter.
Order in the matter of Apex Frozen Foods Ltd. Page 3 of 23 customer base consisting of food companies, retail chains, restaurants, club frozen stores and distributors spread across the developed markets of USA, UK and various European Countries.
Order in the matter of Apex Frozen Foods Ltd. Page 4 of 23 respectively. It was observed from the said financial results that AFF made a profit of ₹ 2,204.32 lakh in the quarter ended September 2017 as against the profit of ₹1,664 lakh in the previous quarter.
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Source: SecMarx — sebi:QJA/VS/IVD/ID6/25087/2022-23. 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.