sebi:WTM/AB/EFD-I/DRA-1/25/2018-19
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Facts / Headnote
Disgorgement of Rs. 10,41,005 to Investor Protection and Education Fund directed; charge relating to financial results UPSI disposed of without finding
Provisions invoked
- s. 11
- s. 19
- s. 12A
- s. 15G
- s. 23
- s. 2(77)
Regulations
- Reg. 7
- Reg. 13
- Reg. 3
- Reg. 3(i)
- Reg. 2
- Reg. 2(e)
- Reg. 12
- Reg. 2(3)
Parties
- Amit Jaiswal
- Mansi Jaiswal
Holding
The Whole Time Member held Mr. Amit Jaiswal and Ms. Mansi Jaiswal liable for insider trading while in possession of UPSI relating to Rs. 2 interim dividend and Kanchan Properties Limited's sale of JPL shares and directed disgorgement of Rs. 10,41,005 to the Investor Protection and Education Fund, while dropping the charge relating to financial results UPSI.
Full text
Order in the matter of Jagran Prakashan Limited Page 2 of 20 2. SEBI has passed an ad-interim ex-parte order dated November 20, 2015 impounding the alleged illegal gains of Rs. 10,41,005/- made by the Noticees with a direction to the Noticees not to dispose of or alienate any of their assets/ properties/ securities till the aforesaid amount is credited into an escrow account. The aforesaid impounded amount was deposited by the Noticees as directed on December 21, 2015. Show Cause Notice, Reply and Personal Hearing:
Order in the matter of Jagran Prakashan Limited Page 3 of 20 and made their submissions. The Noticees also filed their written submissions on December 12, 2018. Consideration of SCN, reply and submissions:
Order in the matter of Jagran Prakashan Limited Page 4 of 20 8. In terms of Regulation 2(ha) of the PIT Regulations, PSI means: (2) (ha) “price sensitive information” means any information which relates directly or indirectly to a company and which if published is likely to materially affect the price of securities of company. Explanation.—The following shall be deemed to be price sensitive information :— (i) periodical financial results of the company; (ii) intended declaration of dividends (both interim and final); (iii) issue of securities or buy-back of securities; (iv) any major expansion plans or execution of new projects. (v) amalgamation, mergers or takeovers; (vi) disposal of the whole or substantial part of the undertaking; (vii) and significant changes in policies, plans or operations of the company;
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Source: SecMarx — sebi:WTM/AB/EFD-I/DRA-1/25/2018-19. 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.