sebi:SO/EFD-2/SD/238/AUGUST/2018
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Facts / Headnote
Settled
Regulations
- Reg. 7(1)
- Reg. 17
- Reg. 13(1)
- Reg. 15
- Reg. 31(1)
Parties
- Raghav Bahl
- Ritu Kapur
- Subhash Bahl
- Vandana Malik
- Digital Content Private Ltd.
- RB Diversified (formerly RB Investments Pvt. Ltd.)
- RB Holdings Pvt. Ltd.
- Network 18 Employees Welfare Trust
- TV 18 Employees Welfare Trust
- Network 18 Media and Investment Ltd.
Holding
The adjudication proceedings initiated vide Show Cause Notice dated June 27, 2016 and proceedings that could have been initiated for delayed disclosure defaults in 2008, 2009 and 2012 are settled qua the applicants upon payment of Rs 31,60,374 without admitting or denying findings. SEBI shall not initiate any enforcement action against the applicants for the said defaults subject to the stated conditions.
Full text
Settlement order in the matter of Raghav Bahl & Ors Page 1 of 3 SO/EFD-2/SD/238/AUGUST/2018 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER On Application No. 3462/2018
Settlement order in the matter of Raghav Bahl & Ors Page 2 of 3 Media and Investment Ltd. as a result of which their shareholding had increased beyond 2% on separate instances in the year 2008, 2009 and 2012. However, the applicants had not made the disclosures for the said acquisitions within the time specified under the Takeover Regulations. The applicants had also not made the disclosures within the time specified under the PIT Regulations, 1992 as well as under the shareholding pattern filed with the stock exchange under the Listing Agreement.
Settlement order in the matter of Raghav Bahl & Ors Page 3 of 3 8. In terms of regulation 17 of the Settlement Regulations, a copy of this order shall be sent to the applicant and shall also be published on the website of SEBI.
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Source: SecMarx — sebi:SO/EFD-2/SD/238/AUGUST/2018. 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.