PR No. 114/2010
Consent Order in respect of M/s. Mavi Investment Fund Limited in the matter of M/s. Soma Textiles and Industries Limited
A Panel consisting of Whole Time Members, SEBI, Dr. K. M. Abraham and Shri Prashant Saran has passed a consent order dated April 30, 2010 on the application submitted by M/s. Mavi Investment Fund Limited for non-compliance of Regulations 7(1), 7(1)A and 8(1) of SEBI(Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and Regulation 13(3) of the SEBI(Prohibition of Insider Trading) Regulations, 1992 within the time specified therein, with regard to the disclosures to be made to the Stock Exchanges for the period 2006-2007 in the matter of acquisition of shares of M/s. Soma Textiles and Industries Limited in accordance with SEBI Circular dated April 20, 2007 for consent orders. The applicant has remitted a sum of Rs.10,00,000/- (Rupees ten lakh only) towards the settlement charges, in the matter.
May 05, 2010