Adjudication Order in respect of Ms. Sushila Devi in the matter of Maithan Alloys Limited

Last updated: 09 December 2020

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Quick Summary

This adjudication order concerns Ms. Sushila Devi and Maithan Alloys Limited. SEBI investigated the company's shareholding disclosures between April and June 2015. It was observed that Ms. Sushila Devi, a promoter, sold 57,295 shares during this period, leading to a decrease in promoter shareholding. This action potentially contravened SEBI's disclosure requirements under the Prohibition of Insider Trading Regulations.

Court :
SEBI

Brief :
Maithan Alloys Limited (hereinafter referred to as 'the company' or 'MAL'), is a company having its shares listed on National Stock Exchange of India limited (‘NSE’), The Calcutta Stock Exchange Limited (‘CSE’) and Metropolitan Stock Exchange of India Limited (MSE) and is traded on BSE Ltd. (‘BSE’) trading platform under “Permitted to Trade” category. Securities and Exchange Board of India ("SEBI") conducted investigation in the affairs of the company during the period from April 13, 2015 to June 12, 2015.

Citation :
[ADJUDICATION ORDER No.: Order/AP/SK/2020-21/9768]

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