sebi:SD/AO/145/2009
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Facts / Headnote
Violation established; penalty of Rs. 1,50,000 imposed under Section 15A(b) of SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13(1)
- Reg. 7(1)
Parties
- M/s Unique Lease Finance Limited
Holding
The Adjudicating Officer held that M/s Unique Lease Finance Limited violated Regulation 7(1) r/w 7(2) of the Takeover Regulations and Regulation 13(1) of the PIT Regulations by failing to disclose its shareholding exceeding 5% in FTEL, and imposed a monetary penalty of Rs. 1,50,000 under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 9 Acquisition of Shares and Takeovers) Regulation, 1997 (hereinafter referred to as the ‘Takeover Regulations’) and Regulation 13(1) SEBI (Prohibition of Insider Trading) Regulation, 1992 (hereinafter referred to as the ‘PIT Regulations’) for which the adjudication proceeding has been initiated and therefore, the Noticee is liable for monetary penalty for the alleged violations, as prescribed under section 15A(b) of the Securities and Exchange Board of India Act,1992 (hereinafter referred to as ‘SEBI Act’).
Page 3 of 9 inquiry in the instant matter for which an opportunity of personal hearing was given to the Noticee. The Noticee was advised by the undersigned to attend the said personal hearing on August 07, 2009. However, the Noticee did not appear before the undersigned. However, the Noticee sought another date of hearing for appearance vide letter dt. 4th August,
Page 4 of 9 Acquisition of 5 per cent and more shares or voting rights of a company. 7(1) Any acquirer, who acquires shares or voting rights which (taken together with shares or voting rights, if any, held by him) would entitle him to more than five per cent or ten per cent or fourteen per cent shares or voting rights in a company, in any manner whatsoever, shall disclose at every stage the aggregate of his shareholding or voting rights in that company to the company and to the stock exchanges where shares of the target company are listed. ……… (2) The disclosures mentioned in sub-regulations (1) and (1A) shall be made within two days of,—
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Source: SecMarx — sebi:SD/AO/145/2009. 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.