Certain of our Promoter group and our Promoter, Directors are involved in certain legal proceedings.
A. Certain of our Promoter Group and our Promoter, Directors, are involved in certain legal proceedings.
Market Regulator SEBI has imposed penalty on our Promoter, promoter group and directors for wrong
disclosure of shareholding, non disclosure as per SEBI (Prohibition of Insider Trading) Regulation 1992,
non disclosure as per SEBI (SAST) 1997 and violation of Section 11 C (3) read with Section 11(2) (I) of
SEBI Act 1992. The details are as follows:
Sr.
No
Name &
Relationship
Date of Order Particulars Amount
(In Rs)
1 Sungold Capital
Limited
(NOTE-1)
30th June 2017
[ADJUDICATION
ORDER NO. EAD5/SVKM/AO/49-
57/2017-18]]
Section 23E of the SCRA, 1956, for the violation of
provisions of Section 21 of SCRA read with Clause 35
of Listing Agreement, on Sungold Capital Limited,
notice no. 1 herein for wrongly classifying the
shareholding of the 'promoter group' as 'public
holding' and making wrong disclosures of the
shareholding of Ravi Rajiv Kotia.
500,000
2 Sungold Capital
Limited,
Rajiv R Kotia,
Ashok Modi,
Sharadchandra
Gandhi
(NOTE-2)
30th June 2017
[ADJUDICATION
ORDER NO. EAD5/SVKM/AO/49-
57/2017-18]
Section 15HA of the SEBI, 1992, for the violation of
provisions of Regulation 3 (d) of SEBI PFUTP
Regulations, 2003, payable jointly and severally by the
notices i.e. Sungold Capital Limited and its executive
Directors namely Shri Rajiv R Kotia, Shri Ashok Modi
and Shri Sharad Gandhi for providing false and
misleading information to the stock exchanges by
classifying the shareholding of the 'promoter group' as
'public holding'
1,000,000
3 Rajiv R Kotia in
the case of
Sungold Capital
Limited.
30th June 2017
[ADJUDICATION
ORDER NO. EAD5/SVKM/AO/49-
57/2017-18]
Section 15A (b) of the SEBI Act, 1992, for the
violation of Regulation 13 (4) read with Regulation 13
(5) of SEBI (Prohibition of Insider Trading)
Regulations, 1992, on the notice no. 2, Shri Rajiv R
Kotia, Promoter, Chairman & Managing Director of
Sungold Capital Limited for failure to disclose to the
Company and to the stock exchange the change in the
shareholding of his Wife and Son under the aforesaid
PIT Regulations.
12,00,000
4 Shilpa Amit Kotia,
Dhaval Ramesh
Kotia,
Shwetha Dhaval
Kotia,
Seema Rajiv Kotia,
Ravi Rajiv Kotia,
under
(NOTE-3)
30th June' 2017
[ADJUDICATION
ORDER NO. EAD5/SVKM/AO/58-
62/2017-18]
Section 15I of the SEBI Act, 1992 read with Rule 5 of
the Adjudication Rules, hereby impose, a penalty of `
10,00,000/- (Rupees Ten Lakhs Only) payable jointly
and severally by the notices namely Smt. Shilpa Amit
Kotia, Shri Dhaval Ramesh Kotia, Smt. Shwetha
Dhaval Kotia, Smt. Seema Rajiv Kotia and Shri Ravi
Rajiv Kotia, under Section 15A (b) of the SEBI Act,
1992, for the violation of Regulation 7 (1A) read with
Regulation 7 (2) of SEBI (Substantial Acquisition of
Shares and Takeovers) Regulations, 1997
10,00,000
5 Sungold Capital
Limited,
19th July 2017
[ADJUDICATION
ORDER NO. EAD5/SVKM/AO/82-
86/2017-18]
Section 15I of the SEBI Act, 1992 read with Rule 5 of
the SEBI Adjudication Rules, whereby penalty is
impose, under Section 15A (a) of the SEBI Act, 1992,
for the violation of Section 11C (3) read with Section
11 (2) (I) of SEBI Act, 1992 by the notices.
500,000
6 Shilpa Amit Kotia,
Shwetha Dhaval
Kotia, Ravi Rajiv
Kotia, Seema Rajiv
19th July 2017
[ADJUDICATION
ORDER NO. EAD5/SVKM/AO/82-
Section 15I of the SEBI Act, 1992 read with Rule 5 of
the SEBI Adjudication Rules, whereby penalty is
impose under Section 15A (a) of the SEBI Act, 1992,
for the violation of Section 11C (3) read with Section
800,000
Zerodha (Trading Account)
DRHP
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