New Delhi, Alcide Investments Ltd has settled a case with market regulator Sebi related to failure to maintain a structured digital database and disclosure omissions after paying Rs 17.31 lakh of settlement amount.
This happened after Alcide Investments filed an application with the Securities and Exchange Board of India (SEBI) seeking to settle the adjudication proceedings for alleged violations through a settlement order.
"The urgent judicial proceedings initiated against the applicant are disposed of by way of show cause notice dated October 31, 2023," Sebi said in its disposal order.
In its show cause notice, the regulator alleged that Alcide Investments failed to maintain a structured digital database during the POI. Also, Jatin Saraiya (part of the promoter group of Alcide Investments) failed to disclose joint holding of 50 shares with his spouse for the quarters ending December 2021 to June 2022.
It said this led to alleged violations of insider trading rules and LODR (Listing Obligations and Disclosure Requirements) norms.
The notice was issued after SEBI conducted an investigation to verify compliance with the provisions of securities law by Alcide Investments Limited after receiving complaints through SCORES. The period of investigation was from 9 March 2022 to 13 May 2022.
This happened after Alcide Investments filed an application with the Securities and Exchange Board of India (SEBI) seeking to settle the adjudication proceedings for alleged violations through a settlement order.
"The urgent judicial proceedings initiated against the applicant are disposed of by way of show cause notice dated October 31, 2023," Sebi said in its disposal order.
In its show cause notice, the regulator alleged that Alcide Investments failed to maintain a structured digital database during the POI. Also, Jatin Saraiya (part of the promoter group of Alcide Investments) failed to disclose joint holding of 50 shares with his spouse for the quarters ending December 2021 to June 2022.
It said this led to alleged violations of insider trading rules and LODR (Listing Obligations and Disclosure Requirements) norms.
The notice was issued after SEBI conducted an investigation to verify compliance with the provisions of securities law by Alcide Investments Limited after receiving complaints through SCORES. The period of investigation was from 9 March 2022 to 13 May 2022.
