Adjudication Order in respect of Kritika Trust in the matter of Unisys Softwares and Holding Industries Limited

Last updated: 29 October 2020

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Quick Summary

The Securities and Exchange Board of India (SEBI) has issued an adjudication order against Kritika Trust concerning its role as a promoter or part of the promoter group for Unisys Softwares and Holding Industries Limited. SEBI's investigation revealed that Kritika Trust failed to make the required disclosures within the stipulated two working days after becoming a promoter on October 1, 2011. This failure constitutes a violation of SEBI's Prohibition of Insider Trading (PIT) Regulations.

Court :
SEBI

Brief :
Unisys Softwares and Holding Industries Limited (hereinafter referred as “Unisys” or “the company”), is a company having its shares listed on BSE Ltd. (‘BSE’) and The Calcutta Stock Exchange Limited (‘CSE’). Securities and Exchange Board of India ("SEBI") conducted investigation in the affairs of the company during the period from January 19, 2010 to November 14, 2014. Pursuant to the investigation, SEBI observed the following with regard to disclosure requirements to be made by the promoter/promoter group of the company under SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter also referred to as “PIT Regulations”) read with SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter also referred to as “2015 PIT Regulations”):

Citation :
[ADJUDICATION ORDER No.: ORDER/AP/SK/2020-21/9431]

Daily Limit Reached