sebi:SD/AO/167/2009
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; monetary penalty of Rs.1,00,000 imposed under Section 15A(b) of the SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
Regulations
- Reg. 7
- Reg. 13
Parties
- Shri Ashlesh G. Shah
Holding
The Noticee violated Regulation 7(1) read with Regulation 7(2) of SAST Regulations and Regulations 13(1) & 13(3) read with Regulation 13(5) of Insider Trading Regulations and was held liable for monetary penalty under Section 15A(b) of the SEBI Act, with a penalty of Rs.1,00,000 imposed.
Full text
Page 2 of 7 with Rule 3 of SEBI (Procedure for holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) to inquire into and adjudge under Section 15A (b) of the SEBI Act, the alleged violation of Regulation 7 (1) read with Regulation 7 (2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997 (hereinafter referred to as ‘SAST Regulations’) and Regulations 13 (1) & 13 (3) read with Regulation 13 (5) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as the ‘Insider Trading Regulations’) by inter alia Shri Ashlesh G. Shah.
Page 3 of 7 Whether the Noticee has violated the provisions of Regulation 7 (1) read with Regulation 7 (2) of SAST Regulations and Regulations 13 (1) & 13 (3) read with Regulation 13 (5) of Insider Trading Regulations.
Page 4 of 7 Insider Trading Regulations Disclosure of interest or holding by directors and officers and substantial shareholders in a listed companies - Initial Disclosure. 13. (1) Any person who holds more than 5% shares or voting rights in any listed company shall disclose to the company in Form A, the number of shares or voting rights held by such person, on becoming such holder, within 4 working days of :—
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Source: SecMarx — sebi:SD/AO/167/2009. 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.