sebi:SO/EFD-2/SD/260/JAN/2019
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Facts / Headnote
Settled
Provisions invoked
- s. 15A
- s. 15J
Regulations
- Reg. 25
- Reg. 34
- Reg. 23
- Reg. 29(1)
- Reg. 14A
Parties
- Cinnamon Capital Limited
Holding
The proposed proceedings against Cinnamon Capital Limited for 9-day delay in disclosure were settled qua the applicant on payment of Rs 2,00,000. SEBI shall not initiate any enforcement action against the applicant for the said defaults.
Full text
Settlement order in the matter of Indiabulls Real Estate Limited Page 1 of 2 SO/EFD-2/SD/260/JAN/2019 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SUMMARY SETTLEMENT ORDER On Summary Settlement Application No. SS-07/2019
Settlement order in the matter of Indiabulls Real Estate Limited Page 2 of 2 i. the proposed proceedings that could have been initiated for the defaults as discussed in paragraph 1 above, are settled qua the applicant as per the above terms; ii. and SEBI shall not initiate any enforcement action against the applicant for the said defaults; iii. this order disposes of the proceedings that may be initiated for the defaults as mentioned above, in respect of the applicant and; iv. passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing proceedings against the applicant, if SEBI finds that: a. any representation made by the applicant in the present settlement proceedings is subsequently discovered to be untrue; b. the applicant has breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings.
In respect of Cinnamon Capital Limited [PAN: AAACO9830F] In the matter of Indiabulls Real Estate Limited 1. Securities and Exchange Board of India (‘SEBI’) had conducted an examination in the matter of Indiabulls Real Estate Limited (hereinafter referred to as ‘target company’). The examination prima facie revealed that there was a delay on the part of Cinnamon Capital Limited (hereinafter referred to as ‘applicant’) in making the disclosures regarding change in shareholding under Regulation 29(1) read with 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.The applicant had acquired 5.05% of shares of the target company and the required disclosures for the said acquisition was made with a delay of 9 days.
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Source: SecMarx — sebi:SO/EFD-2/SD/260/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.