sebi:SO/EFD-2/SD/241/OCT/2018
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Facts / Headnote
Settled
Regulations
- Reg. 17
- Reg. 15
- Reg. 29(2)
- Reg. 30(2)
Holding
The proposed adjudication proceedings against Altimax Financial Services Pvt. Limited for delayed compliance with Regulations 29(2) and 30(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 are settled qua the applicant upon payment of Rs. 2,01,447 towards settlement charges.
Full text
Settlement order in the matter of Astec Life Sciences Limited Page 1 of 2 SO/EFD-2/SD/241/OCT/2018 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER On Application No. 3425 of 2017 Filed by Altimax Financial Services Pvt. Limited [PAN: AAJCA7511L] In the matter of Astec Life Sciences Limited
Settlement order in the matter of Astec Life Sciences Limited Page 2 of 2 the applicant as per the above terms, by way of this order and SEBI shall not initiate any enforcement action against the applicant for the said defaults.
1. Altimax Financial Services Pvt. Limited (hereinafter referred to as ‘applicant’) filed a settlement application in terms of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (‘Settlement Regulations’), while admitting the findings of fact and conclusions of law, proposing to settle, through a settlement order, the proposed adjudication proceedings intimated vide Notice of Approved Enforcement Action dated April 13, 2017, for the delayed compliance of Regulation 29(2) (i.e. delay in making disclosure of change in shareholding) and Regulation 30(2) (i.e. delay in making annual disclosure) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Source: SecMarx — sebi:SO/EFD-2/SD/241/OCT/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.