sebi:RA/DPS/222/2017
Facts / Headnote
Violation found; monetary penalty imposed ex-parte
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
Regulations relied on
- SEBI (PIT) Regulations, 1992 — 13(1)
- SEBI (SAST) Regulations, 2011 — 29(1)
Parties
- Shri Srinivasa Rao Marupudi
Holding
The Noticee, promoter of Venus, violated regulations 13(1), 13(3) and 13(4A) read with 13(5) of PIT Regulations and regulations 29(1) and 29(2) read with 29(3) of SAST Regulations by failing to disclose changes in shareholding, and a total penalty of Rs. 16,50,000 was imposed under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Shri Srinivasa Rao Marupudi Page 2 of 13 referred to as ‘SAST Regulations’) by Shri Srinivasa Rao Marupudi, (hereinafter referred to as “the Noticee / Srinivasa”). APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Shri Srinivasa Rao Marupudi Page 3 of 13 13(4A) read with 13(5) of PIT Regulations and regulation 29(1) and 29(2) read with 29(3) of SAST Regulations and the details of which is given below:- Date Holding of Shares % Holding Violation 24/11/2012 832,892 5.48% PIT and SAST Regulations 26/11/2012 721500 4.75% 31/12/2012 829345 5.46% 03/01/2013 721500 4.75% 17/09/2013 21500 0.14%
Adjudication Order in respect of Shri Srinivasa Rao Marupudi Page 4 of 13 13(4A) Any person who is a promoter or part of promoter group of a listed company, shall disclose to the company and the stock exchange where the securities are listed in Form D, the total number of shares or voting rights held and change in shareholding or voting rights, if there has been a change in such holdings of such person from the last disclosure made under Listing Agreement or under sub-regulation (2A) or under this sub-regulation, and the change exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding or voting rights, whichever is lower.
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Source: SecMarx — sebi:RA/DPS/222/2017. 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.