Settlement Order in respect of Savi Porfolio Management Services Limited in the matter of Karma Industries Limited
Last updated: 29 October 2020
Court :
SEBI
Brief :
Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) had conducted an examination in the matter of Karma Industries Limited (hereinafter referred to as ‘the Company’). During the said examination, it was observed that Savi Portfolio Management Services Limited (hereinafter referred to as ‘the applicant’) had delayed making disclosures as required under Regulation 29(1) read with Regulation 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers), 2011 (hereinafter referred to as the ‘SAST Regulations’), in respect of change in their shareholding in the Company.
Citation :
SO / EFD-2/ SD / 355 / OCTOBER / 2020
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