sebi:SO/EAD/BJD/VS/4/2018-19
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Facts / Headnote
Disposed of by settlement
Provisions invoked
- s. 15A
- s. 15
Regulations
- Reg. 17
- Reg. 15(1)
- Reg. 7(2)
- Reg. 7(2)(a)
- Reg. 7(2)(b)
Parties
- M/s Patel Airtemp (India) Ltd
Holding
In terms of Regulation 15(1) of the Settlement Regulations, the adjudication proceedings initiated against M/s Patel Airtemp (India) Ltd vide show cause notice dated August 21, 2018 are disposed of upon payment of the settlement amount of Rs. 3,68,156.
Full text
Settlement order in respect of M/s Patel Airtemp (India) Ltd Page 2 of 4 the company on time. However, there was a delay of 11 days in filing the disclosures by the company. 29/09/2015 5354 7,77,755.90 63,75,395.60 Acquisition 30-Sept-15 12-Oct-15 Disclosure required. Promoter disclosed to the company on time. However, there was a delay of 7 days in filing the disclosures by the company 30/09/2015 88 12,760.00 63,88,155.60 Acquisition 01-Oct-15 12-Oct-15 Disclosure required. Promoter disclosed to the company on time. However, there was a delay of 6 days in filing the disclosures by the company.
Settlement order in respect of M/s Patel Airtemp (India) Ltd Page 3 of 4 5. Accordingly, a Show Cause Notice no. EAD/BJD/VS/23355/2018 dated August 21, 2018 (hereinafter referred to as ‘SCN’) in terms of the provisions of Rule 4(1) of the AO Rules, 1995 was issued to the Noticee, seeking its reply as to why an inquiry should not be held in respect of its alleged violation of Regulation 7(2) (b) of PIT Regulations, 2015 in view of the allegations as mentioned at paras 1 to 3 above.
Settlement order in respect of M/s Patel Airtemp (India) Ltd Page 4 of 4 at Mumbai. The aforesaid summary settlement was approved by the panel of WTMs on January 10, 2019.
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Source: SecMarx — sebi:SO/EAD/BJD/VS/4/2018-19. 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.