sebi:SO/EFD-2/SD/254/DEC/2018
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Facts / Headnote
Settled
Regulations
- Reg. 7(1)
- Reg. 17
- Reg. 13(3)
- Reg. 15
Parties
- SPG Prints B.V. (earlier known as Stork Prints B.V.)
Holding
The proceedings that could have been initiated against SPG Prints B.V. for the delayed disclosure defaults are settled qua the applicant upon payment of Rs 16,03,508, and SEBI shall not initiate any enforcement action against the applicant for the said defaults.
Full text
Settlement order in respect of SPG Prints B.V. Page 1 of 2 SO/EFD-2/SD/254/DEC/2018 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER On Application No. 3299 of 2017 Filed by SPG Prints B.V. (earlier known as Stork Prints B.V.) In the matter of Stovec Industries Limited
Settlement order in respect of SPG Prints B.V. Page 2 of 2 SEBI shall not initiate any enforcement action against the applicant for the said defaults.
1. SPG Prints B.V. (hereinafter referred to as ‘applicant’) filed a suo moto settlement application in terms of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (‘Settlement Regulations’), without admitting the findings of fact and conclusions of law, proposing to settle, through a settlement order, the delayed compliance of Regulations 7(1), 7(1A), 7(2), 8(1) and 8(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (i.e. delay in making disclosure of change in shareholding and continual disclosure) and Regulation 13(3) read with 13(5) and (6) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (i.e. delay in making disclosure of change in shareholding)
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Source: SecMarx — sebi:SO/EFD-2/SD/254/DEC/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.