January
07, 2011
PR No. 005/2011
SEBI passes Consent Order in the matter of irregular trading in the scrip of Anu Laboratories Ltd. – Shri Nagesh Sayaji Rao Walimbe
A panel consisting of Whole Time Members, SEBI, Dr. K.M. Abraham and Shri Prashant Saran has passed consent order on December 29, 2010 in the matter of irregular trading in the scrip of Anu Laboratories Ltd. on application submitted by Shri Nagesh Sayaji Rao Walimbe.
The applicant is one of the promoters/directors of Anu Laboratories Ltd. (‘the company’). As per the company’s Code of Conduct for Prevention of Insider Trading, the trading window of the company is closed from the date of the announcement of the meeting of the Board of Directors for considering price sensitive matters till the elapse of 24 hours from the time when the decision taken by the Board is made public. On May 27, 2009 at 10.45 AM, the company announced that a meeting of its Board of Directors would be held on June 03, 2009 to consider inter alia the issue of bonus shares and raise additional funds. The applicant sold 10, 07,510 shares of the company on May 28, 2009, attracting enforcement action under the SEBI Act,1992 read with regulation 14 (1) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (‘PIT Regulations’)
The applicant has remitted a sum of ` 36,00,000 (Rupees thirty six lakh only) towards settlement charges. Hence, the violation of PIT Regulations in respect of trading by the applicant in the shares of the company is settled by this order.
Mumbai
January 07, 2011
|