sebi:VSS/AO-93/2009
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Facts / Headnote
Violation established; monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 13
- Reg. 13(6)
- Reg. 12(2)
Holding
The Noticee violated regulation 13(6) of PIT by failing to make disclosures to BSE in the prescribed Forms C and D for nine transactions, and a monetary penalty of Rs.5,00,000 under section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 17 through off-market. Thus, in all, there were nine transactions – six in respect of AHS and three in respect of BJS – for which the Noticee was required to make disclosure under regulation 13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as “PIT”). It was alleged that the Noticee had failed to make necessary disclosure in the specified format with regard to the aforesaid transactions to Bombay Stock Exchange (hereinafter referred to as ‘BSE’) resulting in violation of regulation 13(6) of PIT and consequently, liable for penalty under sections 15A (b) of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 3 of 17 5. The Noticee replied vide letter dated August 11, 2008 furnishing, inter alia, details of the disclosure made by it to BSE and denied the
Page 4 of 17 Date of intimation to Noticee Date of intimation by Noticee to BSE No. of shares transacted Proof of delivery 03.12.2004 03.12.2004 1,50,000 Hand delivery. 03.12.2004 03.12.2004 1,50,000 Hand delivery. 03.12.2004 03.12.2004 1,50,000 Hand delivery.
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Source: SecMarx — sebi:VSS/AO-93/2009. 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.