Adjudication Order in respect of Mr. Snehal Bharatbhai Patel in the matter of Oasis Tradelink Limited

Last updated: 05 November 2020

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This adjudication order concerns Mr. Snehal Bharatbhai Patel, a promoter and Compliance Officer of Oasis Tradelink Limited (OTL). SEBI investigated his trading activities during January 1 to March 31, 2018, for potential violations of insider trading and substantial acquisition regulations. It was observed that Mr. Patel sold a significant number of shares off-market, reducing his shareholding substantially, and allegedly failed to make the required disclosures to OTL and the Bombay Stock Exchange (BSE) as mandated by SEBI regulations.

Court :
SEBI

Brief :
Oasis Tradelink Limited (hereinafter referred to as ‘OTL’), is a company listed on Bombay Stock Exchange Limited (BSE). Securities and Exchange Board of India (‘SEBI’) had conducted an investigation in the matter of trading in the scrip of the OTL by its promoter and Compliance Officer, Mr. Snehal Bharatbhai Patel (hereinafter referred to as ‘the Noticee’), to ascertain whether there was any violation of the provisions of SEBI (Prohibition of Insider Trading) Regulation, 2015 (hereinafter referred to as ‘the PIT Regulations) and SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 (hereinafter referred to as ‘the SAST Regulations) during the period January 1, 2018 to March 31, 2018 (hereinafter referred to as ‘investigation period’).

Citation :
[ADJUDICATION ORDER Ref No.: Order/AP/VS/2020-21/9533]

Daily Limit Reached