sebi:SRO/GR/AO-1/2015
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations established ex-parte; monetary penalty imposed
Provisions invoked
- s. 15
- s. 19
Regulations
- Reg. 6
- Reg. 199
- Reg. 8
- Reg. 8(2)
- Reg. 29(2)
- Reg. 201
- Reg. 8(1)
Parties
- Shri. R Rajasankar
- Shri D Ravisankar
- Shri S Durai
- R Vallabai
- Shri V P Ramanathan
- Shri K R Jain
- M/s Shankar Homes Private Limited
Holding
Noticees Nos. 1 to 7 violated Regulation 8(2) of the Takeover Regulations, 1997 and Regulations 29(2) read with 29(3) and 30(2) read with 30(3) of the Takeover Regulations, 2011, and Noticee No. 7 additionally violated Regulation 8(1) of the Takeover Regulations, 1997, and monetary penalty was imposed under Section 15A(b) of the SEBI Act.
Full text
Page 2 of 11 of the company are listed at Bombay Stock Exchange Ltd. (hereinafter referred to as BSE) and Madras Stock Exchange Ltd. (herein after referred to as MSE).
Page 3 of 11 pasted at the last known / available addresses of the Noticees. The Noticees had neither availed the opportunity of personal hearing nor had responded in any manner whatsoever. It was alleged in the SCN that Shri. R Rajasankar, Shri D Ravisankar, Shri S Durai, R Vallabai, Shri V P Ramanathan, Shri K R Jain and M/s Sankar Homes Private Limited (hereinafter referred to as Noticees Nos. 1 to 7) had violated Regulation 8(2) of Takeover Regulations, 1997 on 11 consecutive occasions and Regulations 29(2) read with 29(3) for the transaction dated February 14, 2013 and 30(2) read with 30(3) for the year 2012 of Takeover Regulations, 2011. Further, it was also alleged that, M/s. Shankar Homes Private Limited (hereinafter referred to as Noticee No. 7) had failed to comply with Regulation 8(1) of the Takeover Regulations 1997 for the period 2001 to 2011.
Page 4 of 11 6. The alleged violations in the SCN may be summarized as follows: Sr. No. Name of the Entity Violation(s) 1 Shri. R Rajasankar 8(2) of Takeover Regulations, 1997, 29(2), 29(3), 30(2) and 30(3) of takeover Regulations, 2011 2 Shri D Ravisankar 8(2) of Takeover Regulations, 1997, 29(2), 29(3), 30(2) and 30(3) of takeover Regulations, 2011 3 Shri S Durai 8(2) of Takeover Regulations, 1997, 29(2), 29(3), 30(2) and 30(3) of takeover Regulations, 2011 4 R Vallabai 8(2) of Takeover Regulations, 1997, 29(2), 29(3), 30(2) and 30(3) of takeover Regulations, 2011 5 Shri V P Ramanathan 8(2) of Takeover Regulations, 1997, 29(2), 29(3), 30(2) and 30(3) of takeover Regulations, 2011 6 Shri K R Jain 8(2) of Takeover Regulations, 1997, 29(2), 29(3), 30(2) and 30(3) of takeover Regulations, 2011 7 M/s Shankar Homes Private Limited 8(1) and 8(2) of Takeover Regulations, 1997, 29(2), 29(3), 30(2) and 30(3) of takeover Regulations, 2011
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:SRO/GR/AO-1/2015. 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.