sebi:VSS/AO-35/2008
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Facts / Headnote
Violation established but no monetary penalty imposed; matter disposed of
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15I
Regulations
- Reg. 7
- Reg. 13
- Reg. 3(3)
Parties
- Brij Bhushan Singal
- Neeraj Singal
Holding
The Adjudicating Officer held that violation of regulation 3(3) of SAST Regulations stood established, but imposed no monetary penalty and disposed of the matter.
Full text
Page 2 of 7 In respect of acquisitions under clauses (e), (h) and (i) of sub-regulation (1), the stock exchanges where the shares of the company are listed shall, for information of the public, be notified of the details of the proposed transactions at least 4 working days in advance of the date of proposed acquisition, in case of acquisition exceeding 5 per cent of the voting share capital of the company.
Page 3 of 7 vide letters dated July 31, 2006, photocopy thereof has already been forwarded to you, however a copy thereof is enclosed for you ready reference.
Page 4 of 7 by them is adequate to establish their bonafide contention of having complied with the regulatory requirements.
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Source: SecMarx — sebi:VSS/AO-35/2008. 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.