Nazima Impex Pvt. Ltd. and Jayalalita Commodities Pvt. Ltd.
Penalties and directions recorded
- Penalties for alleged violations of the 1997 Takeover Regulations and PIT Regulations were quashed and set aside.
- Penalties for violating Sections 11C(3) and 11C(5) were upheld for each appellant.
- Each appellant must pay the upheld penalties within six weeks from 14 July 2016.
- Penalties for alleged violations of the 1997 Takeover Regulations and PIT Regulations were quashed and set aside.
- Penalties for violations of Sections 11C(3) and 11C(5) were upheld.
SAT-appeal
- Alleged failure to disclose acquisition exceeding 5% in Mahan Industries Limited under the Takeover and PIT Regulations, and failure to provide information and appear pursuant to SEBI summons under Sections 11C(3) and 11C(5).Penalties for alleged violations of the 1997 Takeover Regulations and PIT Regulations were quashed and set aside. · Penalties for violating Sections 11C(3) and 11C(5) were upheld for each appellant.Appeal: Appeal Nos. 22, 26, 42, 138, 145, 146 and 161 of 2016 disposed of by SAT on 14 July 2016; disclosure penalties quashed and summons-related penalties upheld.
- Alleged failure to disclose acquisition exceeding 5% under the takeover and insider-trading regulations, and failure to provide information and appear pursuant to SEBI summons under Sections 11C(3) and 11C(5).Penalties for alleged violations of the 1997 Takeover Regulations and PIT Regulations were quashed and set aside. · Penalties for violations of Sections 11C(3) and 11C(5) were upheld.Appeal: Appeal Nos. 22, 26, 42, 138, 145, 146 and 161 of 2016 disposed of on 14 July 2016; disclosure-related penalties quashed and summons-related penalties upheld.
Source: SecMarx — Nazima Impex Pvt. Ltd. and Jayalalita Commodities Pvt. Ltd.. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.