sebi:RA/JP/74/2017
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
No penalty imposed; SCN disposed off
Provisions invoked
- s. 15J
- s. 15A
- s. 15F
- s. 2(77)
Regulations
- Reg. 3
- Reg. 3(i)
- Reg. 2
- Reg. 2(c)
- Reg. 12
- Reg. 201
- Reg. 2(i)
Parties
- Sumanth Kumar Reddy Mettu
Holding
The Noticee's derivatives trading during the trading window closure period violated regulation 3(i) of the PIT Regulations, but no penalty under section 15G of the SEBI Act was warranted and the SCN was disposed off.
Full text
Page 2 of 13 Act,the violations of regulation 3 (i) of the PIT Regulations(read with regulation 12 of the current PIT Regulations 2015) alleged to have been committed by the Noticee.
Page 3 of 13 the periodical financial results of the Company, untill the same are declared, is considered as an unpublished price sensitive information.
Page 4 of 13 November 30, 2015 vide hearing notice dated November 16, 2015.Vide said notice of hearing at para 3, the Noticee was specifically asked to produce at the time of hearing, the original proof of payment of ` 5 Lakh by him into the account of Prime Minister‟s National Relief Fund along with the order / decision of Company / APL directing him to make the said payment.
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Source: SecMarx — sebi:RA/JP/74/2017. 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.