sebi:RA/DPS/287/2018
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Facts / Headnote
Penalty of Rs. 15,00,000 imposed on the Noticee
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
- s. 151
- s. 128(5)
Regulations
- Reg. 13(1)
- Reg. 13(3)
- Reg. 13(6)
- Reg. 13(5)
- Reg. 12
- Reg. 2(l)(e)
Parties
- M/s Sayaji Hotels Limited
Holding
The Noticee violated regulation 13(6) of the PIT Regulations by failing to disclose to BSE the changes in shareholding of Ahilya and Aries, and is liable to a monetary penalty of Rs. 15,00,000 under section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of M/s Sayaji Hotels Limited Page 2 of 17 Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) vide order dated April 25, 2016, to inquire into and adjudge under section 15A(b) of the SEBI Act, the violations of regulation 13(6) of PIT Regulations read with 12 of PIT Regulations, 2015. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in respect of M/s Sayaji Hotels Limited Page 3 of 17 disclosure under Regulation 13(1) of PIT Regulations, from Ahilya. Noticee in its reply dated September 11, 2015 has submitted the copy of the disclosure it received from the Ahilya was provided as Annexure – 2 of SCN. As per the reply, it was observed that the Noticee received the said disclosure on March 6, 2006. Further, BSE has confirmed vide its e-mail dated October 9, 2015 that they have not received the disclosure under Regulation 13(6) of PIT regulations from the Noticee, which was placed as Annexure – 3 of SCN.
Adjudication Order in respect of M/s Sayaji Hotels Limited Page 4 of 17 11. In response to the SCN, the Noticee filed its reply dated April 29, 2017. The key
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Source: SecMarx — sebi:RA/DPS/287/2018. 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.