sebi:SD/AO/11/2008
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Facts / Headnote
Guilty - penalty imposed
Provisions invoked
- s. 81
- s. 15H
- s. 15J
- s. 15
Regulations
- Reg. 4
- Reg. 3
- Reg. 200
- Reg. 2
- Reg. 3(c)
- Reg. 4(2)(r)
Parties
- Mr. R. P. Gupta
Holding
Mr. R. P. Gupta, Managing Director of Shiva Cement Ltd at the relevant period, was held guilty of violating Regulation 3(c) and Regulation 4(2)(r) of PFUTP Regulations, 2003 for false, non-genuine and misleading corporate announcements. A penalty of Rs. 1,50,000 under Section 15HA of SEBI Act, 1992 was imposed on him.
Full text
Page 2 of 24 3. At BSE, during the period of investigation, the scrip opened at Rs. 4.00 on November 1, 2004 and touched a high of Rs. 5.14 on November 08, 2004, an increase of 28.5%.
Page 3 of 24 2004 to consider, discuss and approve the issue of equity shares on Rights basis to the shareholders. And on December 7, 2004 SCL announced that its board approved the proposal for raising fresh equity share capital by offering equity shares of Rs.2/- each at a premium up to Rs.3/- per equity share to its existing shareholders and proposal for increase in authorized share capital from Rs.200 million to Rs.280 million (100 to 140 million equity shares of Rs.2/- each aggregating to Rs.280 million).
Page 4 of 24 in off-market from the M/s. Shivom Sales Ltd on 28th January 2004 for a total consideration of Rs. 27 lakhs. The payment for these shares was made in staggered manner till December,
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Source: SecMarx — sebi:SD/AO/11/2008. 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.