sebi:SKS/AO/01/2010
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Facts / Headnote
Violation established; penalty of Rs. 3,00,000 imposed under Section 15A(b) of the SEBI Act
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13(3)
- Reg. 13(5)
Parties
- Shri Prahladbhai J Patel
Holding
The Noticee violated Regulation 13(3) read with 13(5) of the PIT Regulations by failing to disclose a 3.95% change in shareholding of PPL, and a monetary penalty of Rs. 3,00,000 under Section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 10 2. As per the Investigation Report (hereinafter referred to as IR) Shri Prahladbhai J Patel (hereinafter referred to as the ‘Noticee’) alleged to have violated the Regulation 13(3) read with 13(5) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as the ‘PIT Regulations’) for which the adjudication proceeding has been initiated against the Noticee .
Page 3 of 10 the Noticee and the SCN was duly served on the correct address of the Noticee through the aforesaid broker. It is to be noted that the SCN was duly acknowledged. Noticee neither replied nor communicated to the undersigned, despite receiving the SCN.
Page 4 of 10 iii. If so, whether the Noticee had complied with the same or not? iv. Does the non-compliance, if any, on the part of the Noticee attract monetary penalty under section 15A(b) of the SEBI Act? v. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of the SEBI Act?
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Source: SecMarx — sebi:SKS/AO/01/2010. 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.