sebi:SO/EFD-2/CSD/261/FEB/2019
Facts / Headnote
Settlement of proceedings for failure to make requisite disclosures under SEBI (Prohibition of Insider Trading) Regulations, 1992 and 2015, pursuant to summary settlement procedure; SEBI shall not initiate enforcement action for the said defaults.
Provisions invoked
- s. 15J
Regulations relied on
- SEBI (PIT) Regulations, 1992
- SEBI (PIT) Regulations, 2015
Parties
- Mr. Suresh Shetty
- Ms. Reetha Shetty
- Suresh Shetty HUF
- Emerging Securities Private Limited
- Vanijya Investment & Trading
Holding
SEBI approved the summary settlement of proceedings against the applicants for failure to make timely disclosures of shareholding changes exceeding the 25,000 shares threshold in Suprajit Engineering Limited shares, on payment of ₹29,54,738/-. SEBI agreed not to initiate enforcement action for the said defaults, subject to conditions.
Full text
Settlement Order in respect of 1) Mr. Suresh Shetty, 2) Ms. Reetha Shetty, 3) Suresh Shetty HUF, 4) Emerging Securities Private Limited, 5) Vanijya Investment & Trading; all in the matter of Suprajit Engineering Limited
Settlement Order in respect of 1) Mr. Suresh Shetty, 2) Ms. Reetha Shetty, 3) Suresh Shetty HUF, 4) Emerging Securities Private Limited, 5) Vanijya Investment & Trading; all in the matter of Suprajit Engineering Limited
Page 2 of 3 SEBI (Prohibition of Insider Trading) Regulations, 1992 and SEBI (Prohibition of Insider Trading) Regulations, 2015. It was observed that the applicants had transacted in the shares of Suprajit Engineering Limited on several occasions which resulted in change in the shareholding of the applicants exceeding the 25,000 shares threshold limit. However, the applicants failed to make the requisite disclosures within the stipulated time and the disclosures were made subsequently.
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Source: SecMarx — sebi:SO/EFD-2/CSD/261/FEB/2019. 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.