Adjudication Order in respect of Ms. RM Parvathi in the matter of Seshasayee Paper and Boards Limited

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Last updated: 01 October 2020
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This adjudication order concerns Ms. RM Parvathi and Seshasayee Paper and Boards Limited (SPBL). SEBI investigated potential violations of insider trading regulations, specifically regarding the disclosure of promoter status. Ms. Parvathi was alleged to have failed to disclose her promoter status in SPBL within the required timeframe after acquiring shares. However, conflicting information from SPBL, its Registrar and Transfer Agent, and the BSE website regarding her classification as a promoter led the Adjudicating Officer to grant Ms. Parvathi the benefit of the doubt. Consequently, no monetary penalty was imposed.

Court :
SEBI

Brief :
UNDER SECTION 15-I OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995.

Citation :
ADJUDICATION ORDER Ref No.: Order/AP/VS/2020-21/9274

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