sebi:RA/JP/114/2017
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
- s. 103
- s. 269
Regulations
- Reg. 13
- Reg. 13(2)
Parties
- K. Shiraj
Holding
The Noticee was re-appointed as Chairman / Managing Director / Director on November 16, 2009 and failed to disclose his holding of 4,02,531 shares under regulation 13(2) of PIT Regulations, and a penalty of Rs. 4,00,000 under section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 16 dated January 13, 2016, to inquire into and adjudge under section 15A(b) of the SEBI Act, the violations of regulation 13 (2) of PIT Regulations, alleged to have been committed by the Noticee.
Page 3 of 16 PIT Regulations 13 (2) Any person who is a director or officer of a listed company shall disclose to the company in Form B the number of shares or voting rights held and position taken in derivatives by such person and his dependents (as defined by the company), within two working days of becoming a director or officer of the company.
Page 4 of 16 147. In section 15J of the principal Act, the following Explanation shall be inserted, namely:- “Explanation- For the removal of the doubts, it is clarified that the power of an adjudicating officer to adjudge the quantum of penalty under section 15A to 15E and clauses (b) and (c) of section 15F, 15G, 15H and 15HA shall be and shall always be deemed to have been exercised under the provisions of this section.”
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Source: SecMarx — sebi:RA/JP/114/2017. 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.