sebi:SO/SM/DD/2021-22/6390

SEBI · SEBI · 2015-01-15 · Soma Majumder, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings initiated against Shri. Aayush Agarwal vide SCN dated January 07, 2021 disposed of on the basis of settlement terms

Provisions invoked

• s. 15J

Regulations

• Reg. 13
• Reg. 25
• Reg. 28
• Reg. 23(1)
• Reg. 3(1)

Parties

• Shri. Aayush Agarwal

Holding

The adjudication proceedings initiated against Shri. Aayush Agarwal vide SCN dated January 07, 2021 are disposed of in terms of Section 15JB of the SEBI Act, 1992 read with Regulation 23(1) of the Settlement Regulations on the basis of the settlement terms, upon payment of Rs. 6,24,750/-.

Full text

Agrawal, it was observed that there were inter se transfer of shares between them on May 03, 2013 and May 06, 2013. However, disclosure under the provisions of Regulation 13(4A) read with 13(5) of the PIT Regulations was not made by the Noticee as the change exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding or voting rights, whichever is lower, from the last disclosure, required under Regulation 13 (4A) read with 13 (5) of the PIT Regulations.

lakh Twenty Four Thousand Seven Hundred and Fifty only) by 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 June 11, 2021 and the same was communicated by SEBI to applicant vide email dated June 14, 2021. Accordingly, as communicated by applicant to SEBI, the settlement amount was remitted to SEBI on June 17, 2021 and duly received by SEBI.

b) Similarly, the inter se transfer of the Noticee with Mr. Purushotttam B Agrawal on May 03, 2013 and disclosure of the said transaction under the provisions of Regulation 13(4A) read with 13(5) of the PIT Regulations was not made by the Noticee as the change exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding or voting rights, whichever is lower, from the last disclosure, required under Regulation 13 (4A) read with 13 (5) of the PIT Regulations.

Source: SecMarx — sebi:SO/SM/DD/2021-22/6390. 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.