sebi:SO/EFD-2/SD/255/JAN/2019
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Facts / Headnote
Settled
Provisions invoked
- s. 15A
Regulations
- Reg. 17
- Reg. 15
- Reg. 7(2)(a)
- Reg. 14A
- Reg. 14A(3)
- Reg. 34(2)(a)
Parties
- Mr. Prashant Shetty
Holding
The proposed proceedings against Mr. Prashant Shetty for delayed disclosures for sale of 15,000 shares of IndoStar Capital Finance Limited during June 15, 2018 to June 19, 2018 are settled and disposed of upon payment of Rs. 2,04,750, and SEBI shall not initiate enforcement action for the said defaults subject to conditions.
Full text
Settlement order in the matter of IndoStar Capital Finance Limited Page 1 of 2 SO/EFD-2/SD/255/JAN/2019 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SUMMARY SETTLEMENT ORDER On Summary Settlement Application No. 04 of 2018
Settlement order in the matter of IndoStar Capital Finance Limited Page 2 of 2 and SEBI shall not initiate any enforcement action against the applicant for the said defaults.
In respect of Mr. Prashant Shetty [PAN: ABQPS2763P] In the matter of IndoStar Capital Finance Limited 1. Securities and Exchange Board of India (‘SEBI’) had conducted an examination in the scrip of IndoStar Capital Finance Limited (‘IndoStar/ company’). The examination prima facie revealed that Mr. Prashant Shetty (hereinafter referred to as ‘applicant’) had sold 15,000 shares of IndoStar during June 15, 2018 to June 19, 2018. As the traded value of the said sale transactions had exceeded `10 Lakh during the examination period, the applicant was required to make disclosures under Regulation 7(2)(a) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The required disclosures were made with delay.
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Source: SecMarx — sebi:SO/EFD-2/SD/255/JAN/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.