sebi:SD/AO/146/2009
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Facts / Headnote
Disposed of - violation not established, no penalty imposed
Provisions invoked
- s. 15A
- s. 15
Regulations
- Reg. 13(4)
Parties
- Hitesh Arunkumar Choksi
Holding
The alleged violation of Regulation 13(4) read with 13(5) of the PIT Regulations by Hitesh Arunkumar Choksi was held not established and the matter was accordingly disposed of without penalty.
Full text
Page 2 of 6 have violated the Regulation 13(4) read with 13(5) of the 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 6 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 6 substantial shareholders in a listed companies - 13. (1) … … … (2) … … … (3) … … … (4) Any person who is a director or officer of a listed company, shall disclose to the company in Form D, the total number of shares or voting rights held and change in shareholding or voting rights, if there has been a change in such holdings from the last disclosure made under sub- regulation (2) or under this sub-regulation, and the change exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding or voting rights, whichever is lower. (5) The disclosure mentioned in sub-regulations (3) and (4) shall be made within 4 working days of :
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Source: SecMarx — sebi:SD/AO/146/2009. 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.