sebi:VSS/AO-77/2009
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Facts / Headnote
Alleged violations not established; matter disposed of with no penalty
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 7(1)
Holding
The alleged violations of regulations 7(1) and 7(2) of SAST and 13(1), 13(3) and 13(5) of PIT by the Noticee do not stand established and the matter is disposed of.
Full text
Page 2 of 8 (5) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as “PIT”). Consequently, it was alleged that the Noticee was liable for penalty under section 15A(b) of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 3 of 8 7. The issues that arise for consideration in the present case are : a) Whether the Noticee had violated regulations 7(1) and 7(2) of SAST and 13 (1), 13(3) and 13(5) of PIT? b) Does the violation/s, if any, on the part of the Noticee attract monetary penalty under section 15A(b) of SEBI Act? c) If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of SEBI Act?
Page 4 of 8 9. In order to verify the veracity of the claim of the Noticee, it was advised to submit the transaction/holding statement from the Depository Participant, i.e., Standard Chartered Bank. The Noticee vide letter dated February 24, 2009 submitted the transaction statement in respect of MSOL for the period from September 8, 2000 to February 8, 2002.
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Source: SecMarx — sebi:VSS/AO-77/2009. 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.