sebi:SRP/DL/AO-56/2010
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Facts / Headnote
Penalty of Rs. 50,000 imposed on the Noticee for violation of regulation 7(1) read with regulation 7(2) of the SAST Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 7(2)
Parties
- Sumedha Fiscal Services Limited
Holding
The Noticee, acting in concert with others, violated regulation 7(1) read with regulation 7(2) of the SAST Regulations by delayed disclosures after crossing the 5%, 10% and 14% thresholds in HSSIL and is liable to monetary penalty of Rs. 50,000 under section 15A(b) of the SEBI Act.
Full text
Page 2 of 8 Pre-acquisition holdings of the Acquirers % to the issued and paid-up capital No. of Shares acquired Date Post acquisition holdings of the Acquirers % to the issued and paid- up capital 324660 4.96 6100 03.11.2006 330760 5.05 651162 9.98 4211 17.04.2007 655373 10.04 851362 13.05 81969 20.07.2007 933331 14.30
Page 3 of 8 under section 15A (b) of the SEBI Act for the alleged violation of the provisions of regulation 7(1) read with regulation 7 (2) of the SAST Regulations.
Page 4 of 8 9. I have carefully examined the written and oral submissions made by the Noticee and the documents/material available on record. The issues that arise for consideration in the present case are :
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Source: SecMarx — sebi:SRP/DL/AO-56/2010. 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.