sebi:SO/2024-25/EFD-2/5-9
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Settled
Provisions invoked
- s. 15A
- s. 19
- s. 15J
Regulations
- Reg. 16
- Reg. 25
- Reg. 28
- Reg. 23
- Reg. 31(2)
- Reg. 31(3)
- Reg. 16(3)(b)
Parties
- Ravi Dalmia
- Ravi Dalmia (HUF)
- Shashi Dalmia
- Aditya Dalmia
- Shashi Dalmia (HUF)
Holding
The specified proceedings for delayed disclosure of release of pledge under Regulation 31(2) read with Regulation 31(3) of the Takeover Regulations are settled on payment of settlement amount of Rs. 13,84,511, and SEBI shall not initiate any enforcement action against the Applicants for the said violations.
Full text
2 Name of the promote r/promot er group entity Date of transaction No. of shares released Mode of transfer % holding released Applicable Takeover Regulations Compliance Status Ravi Dalmia 01/03/2015 4,95,801 Release of pledge 12.38 31(2) Delayed disclosure Ravi Dalmia (HUF) 01/03/2015 2,25,200 Release of pledge 5.62 31(2) Delayed Disclosure Shashi Dalmia 01/03/2015 1,53,471 Release of pledge 3.83 31(2) Delayed disclosure Aditya Dalmia 01/03/2015 1,13,721 Release of pledge 2.84 31(2) Delayed disclosure Shashi Dalmia (HUF) 01/03/2015 108150 Release of pledge 2.70 31(2) Delayed disclosure
3 remittance of the settlement amount of ₹13,84,511/- (Rupees Thirteen lakh eighty-four thousand five hundred and eleven only), in terms of Regulation 16(3)(b) of the Settlement Regulations, within 30 calendar days from the date of receipt of the Notice in terms of Chapter VII of the Settlement Regulations.
4 (b) the Applicants have breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings; and (c) there is a discrepancy while arriving at the settlement terms.
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Source: SecMarx — sebi:SO/2024-25/EFD-2/5-9. 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.