Adjudication Order in the respect of Eyelight Events and Promotions Pvt Ltd in the matter of Sanraa Media Ltd

Last updated: 29 September 2020
Quick Summary
This adjudication order concerns Eyelight Events and Promotions Pvt Ltd (Eyelight) and its alleged failure to make required disclosures to SEBI and Sanraa Media Ltd. during a specific period in 2008. SEBI investigated a change in Eyelight's shareholding in Sanraa Media Ltd., which exceeded the 2% threshold requiring disclosure under the SAST Regulations. Despite attempts to serve notices, Eyelight participated in the proceedings, arguing that as a seller, not an acquirer, it was not obligated to disclose the reduction in its shareholding.

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), 1995.

Citation :
ADJUDICATIONORDER NO.Order/AA/AR/2020-21/9195

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1 Year PLAN
1999
(Excl. of GST ₹359)

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3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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