sebi:WTM/GM/EFD/74/2017-18
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
All seven noticees found to have contravened Section 12A(d) and (e) of the SEBI Act, 1992 read with Regulations 3(i), 3(ii) and 4 of the PIT Regulations, 1992; prohibited from dealing in securities for 5 years; jointly and severally directed to disgorge ₹95,77,614 with 12% interest from May 27, 2010; PFUTP charges dropped.
Provisions invoked
- s. 19
- s. 11(1)
- s. 370
- s. 12A
- s. 307
- s. 372
- s. 12
- s. 4A
- s. 44A
Regulations
- Reg. 3
- Reg. 199
- Reg. 2
- Reg. 3(i)
- Reg. 4
- Reg. 2(k)
- Reg. 12
- Reg. 3(b)
- Reg. 2(h)
- Reg. 3A
Parties
- Rohit Premkumar Gupta (Noticee No. 1)
- Sanjay Kumar Tayal (Noticee No. 2)
- Navin Kumar Tayal (Noticee No. 3)
- Jyotika Sanjay Tayal (Noticee No. 4)
- Advik Textiles and Realpro Pvt. Ltd. (Noticee No. 5)
- Kulwinder Kumar Nayyar (Noticee No. 6)
- Azam Mohmmed Ashan Shaikh (Noticee No. 7)
Holding
The seven noticees were held to have contravened Section 12A(d) and (e) of the SEBI Act, 1992 read with Regulations 3(i), 3(ii) and 4 of the PIT Regulations, 1992, having traded in BoR shares on the basis of unpublished price sensitive information regarding the BoR-ICICI merger. They were barred from dealing in securities for 5 years and directed to jointly and severally disgorge ₹95,77,614 with 12% interest, while PFUTP charges were dropped.
Full text
__________________________________________________________________________________ Order in the matter of BoR Page 2 of 32
__________________________________________________________________________________ Order in the matter of BoR Page 3 of 32
__________________________________________________________________________________ Order in the matter of BoR Page 4 of 32
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Source: SecMarx — sebi:WTM/GM/EFD/74/2017-18. 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.