sebi:SP/AO/02/2018
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
- s. 15F
Regulations
- Reg. 13
- Reg. 199
- Reg. 3
- Reg. 5
- Reg. 4
- Reg. 2
- Reg. 6
- Reg. 13(4)
- Reg. 13(5)
- Reg. 29(1)
- Reg. 30(2)
- Reg. 31
Parties
- Alokam Prabhakara Rao
Holding
The Noticee, a promoter and director of Covidh Technologies Ltd., failed to make timely disclosures to the stock exchange under Regulations 13(4) and 13(4A) read with 13(5) of PIT Regulations for five sale transactions totalling 3,10,000 shares in July 2013, and is liable for monetary penalty under Section 15A(b) of the SEBI Act. A penalty of Rs.4,00,000 was imposed on Shri Alokam Prabhakara Rao.
Full text
Adjudication Order against Alokam Prabhakara Rao in the matter of Covidh Technologies Ltd. Page 2 of 13 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order against Alokam Prabhakara Rao in the matter of Covidh Technologies Ltd. Page 3 of 13 e. That, after the non-disclosures pertained to August 2013 as mentioned in the notice, he has promptly submitted the applicable disclosures under Regulation 13(4) and (4A) of PIT Regulations and Regulations 29(1), 29(2), 30(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 as and when required without any failure as he has due regards for laws of land.
Adjudication Order against Alokam Prabhakara Rao in the matter of Covidh Technologies Ltd. Page 4 of 13 12. The Noticee, vide reply dated June 30, 2017, inter alia, submitted that, vide letter dated June 13, 2017, he had requested for re-consideration of his settlement application and decision of the committee was still awaited. The Noticee also requested for an opportunity of hearing to present his case.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:SP/AO/02/2018. 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.