sebi:SO/PSD/2024-25/8128-8130
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Facts / Headnote
Proceedings that may be initiated for the violation mentioned at paragraph 1 are settled on payment of settlement amount; SEBI shall not initiate enforcement action subject to Regulations 28 and 31
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 31
- Reg. 23
- Reg. 54
Holding
Any proceedings that may be initiated for the violation mentioned at paragraph 1 are settled in respect of the Applicants upon payment of Rs 3,00,000, and SEBI shall not initiate any enforcement action against the Applicants for the said violations subject to Regulations 28 and 31.
Full text
2 (c) In terms of the Regulation 54 of ICDR Regulations, "The issuer shall ensure that all transactions in securities by the promoter and promoter group between the date of filing of the draft offer document or offer document, as the case may be, and the date of closure of the issue shall be reported to the stock exchange(s), within twenty-four hours of such transactions.”
3 informed about the remittance of the aforesaid settlement amount on March 07, 2025 and SEBI has confirmed credit of the same.
(d) This fact of the transfer of the equity shares ought to have been informed within 24 hours of the transaction i.e. by September 13, 2024. Instead it was informed to the Company by Mr. Vivek Abrol vide letter dated October 14,
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Source: SecMarx — sebi:SO/PSD/2024-25/8128-8130. 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.