sebi:SO/SM/DD/2020-21/6269
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Facts / Headnote
Disposed of by settlement
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23(1)
- Reg. 31
- Reg. 7(2)
- Reg. 3(1)
- Reg. 31(2)
- Reg. 31(3)
Parties
- WCA
Holding
The adjudication proceedings initiated against WCA vide SCN dated September 11, 2020 are disposed of in terms of Section 15JB of the SEBI Act read with regulation 23(1) of the Settlement Regulations on the basis of the settlement terms.
Full text
3. In this regard, a Show Cause Notice ref.no. EAD/ADJ/BJD/AB/OW/15032/1/2020 dated September 11, 2020 (hereinafter referred to as ‘SCN’) was issued to the Noticee. The observations and allegations levelled against the Noticee in the aforesaid SCN are given hereunder in brief:
Three Hundred Thirteen only) by the applicant as settlement amount towards the settlement terms. 6. The Panel of Whole Time Members of SEBI approved the said recommendation of the HPAC on January 11, 2021 and the same was communicated by SEBI to applicant vide email dated January 13, 2021. Accordingly, as communicated by applicant to SEBI, the settlement amount was remitted to SEBI on February 08, 2020 and duly received by SEBI.
a) It was observed that during the examination period, there were certain transactions in the done by the Noticee in the scrip of DTIL wherein there was a delay in making necessary disclosures to DTIL. Out of these transactions on two occasions, one of the disclosures related to invocation of pledge by the Noticee, which was made after a delay of 72 days and the other disclosure related to creation of pledge, which was done with the delay of one day.
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Source: SecMarx — sebi:SO/SM/DD/2020-21/6269. 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.