sebi:SO/SBM/VS/2021-22/6463
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Facts / Headnote
Pending adjudication proceedings against the Applicant disposed of on settlement
Provisions invoked
- s. 15H
- s. 15J
Regulations
- Reg. 25
- Reg. 23(1)
- Reg. 3(1)
- Reg. 3(d)
Parties
- Mr. Hayagreeva Ravikumar Puranam
Holding
The pending adjudication proceedings against Mr. Hayagreeva Ravikumar Puranam in the matter of Bharat Financial Inclusion Ltd. are disposed of in exercise of powers under section 15JB of the SEBI Act read with regulation 23(1) of the Settlement Regulations upon payment of settlement charges.
Full text
___________________________________________________________________________ Settlement Order in respect of Mr. Hayagreeva Ravikumar Puranam in the matter of Bharat Financial Inclusion Ltd. Page 2 of 3
___________________________________________________________________________ Settlement Order in respect of Mr. Hayagreeva Ravikumar Puranam in the matter of Bharat Financial Inclusion Ltd. Page 3 of 3
of ET Now, before going ahead with the interview. However, the Noticee , allegedly went ahead with the interview and made a statement on price sensitive information pertaining to the amalgamation of BFIL with IndusInd Bank Ltd (hereinafter referred to as ‘IBL’), prima facie, without knowing the true facts of the matter. It is alleged that the Noticee made a strong positive statement on the TV Channel (ET NOW) with regard to the process of amalgamation between BFIL and IBL during the course of the TV interview and mentioned that the process of amalgamation would take place anywhere between 2-4 weeks and the merger would be completed with that, which, prima facie was incorrect as the Hon’ble NCLT had reserved its
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Source: SecMarx — sebi:SO/SBM/VS/2021-22/6463. 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.