Adjudication Order in respect of Saral Mining Ltd. in the matter of Sun and Shine Worldwide Limited

Author
View profile
Last updated: 30 September 2020
Quick Summary
This adjudication order concerns Saral Mining Ltd. (formerly XO Infotech Ltd.) and its failure to make timely disclosures regarding significant changes in its shareholding in Sun and Shine Worldwide Limited. SEBI found that Saral Mining Ltd. acquired shares on two occasions, resulting in a change of over 2% in its holdings each time. However, the company failed to disclose these acquisitions to the stock exchange and the company within the stipulated two working days, making disclosures only on April 10, 2015, which was significantly delayed. Consequently, SEBI has imposed a monetary penalty on Saral Mining Ltd. for violating SEBI (Substantial Acquisition of Shares and Takeover Regulations) and SEBI (Prohibition of Insider Trading) Regulations.

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 BY ADJUDICATING OFFICER) RULES, 1995.

Citation :
ADJUDICATION ORDER No.: ORDER/AP/SK/2020-21/9139

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Community
  • Daily E-Newsletter
  • Unlimited Judgements Access
  • Profile Visitors
  • Link Social Profiles
  • Featured Job Posts
  • Pro Badge
  • Expert GST Guidance
  • Unlimited Forum Replies
  • Download Content in PDF
1 Year PLAN - Rs.1999
1799
(Excl. of GST ₹323)

2 Years PLAN - Rs.3499
3149
(Excl. of GST ₹566)

BEST VALUE
3 Years PLAN - Rs.4999
4499
(Excl. of GST ₹809)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

 
downloaded 440 times


Guest

Judgement posted by

Guest

View Judgements
Comments


Recent Judgments :

  1. CESTAT: Service Tax Demand Based Solely on ITR Data Unsustainable; 40% Valuation Applicable to Original Works Contract
  2. CESTAT: Renting Vehicles on Per-Trip Basis Not Taxable as Supply of Tangible Goods
  3. CESTAT Denies Refund of Ocean Freight Service Tax Claim Filed Beyond Limitation
  4. CESTAT Quashes Service Tax Demand Based Merely on Form 26AS; Renting of Residential Hostel Held Non-Taxable
  5. CESTAT: Rajasthan Sales Tax Subsidy under RIPS 2010 Not includible in Excise Assessable Value
  6. CESTAT: Late Payment Charges in the Nature of Interest Not Taxable as Declared Service
  7. CESTAT: Educational Services Exempt Under Section 66D; Extended Period Cannot Be Invoked Without Wilful Suppression
  8. CESTAT: No Service Tax on Royalty under RCM if Mining Lease Was Executed Before 1 April 2016
  9. No pre-deposit required for filing appeal before the GSTAT against penalty-only orders where proceedings commenced prior to October 01 2025
  10. Refund cannot be withheld under Section 54(11) of the CGST Act merely because the Revenue contemplates filing an appeal

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member V.S. BalasubramanianV.S. BalasubramanianPro Member AshishAshishPro Member RBSM CORPORATE ADVISORS PVT LTRBSM CORPORATE ADVISORS PVT LTPro Member AGNIHOTRAM RAM NARAYANAAGNIHOTRAM RAM NARAYANAPro Member Thanwar ChhatwaniThanwar Chhatwani
Subscribe to Pro
Join an elite circle of professionals

Browse by Category




Latest Job Openings

View all
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
02 November 2026
Audit Executive

SRJP & Co LLP

Kochi

CA Inter

View Details
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details