New Delhi, Sep 28 (PTI) Regulator Sebi Friday imposed a fine of Rs 34 lakh on five individuals for disclosure lapses regarding change in their shareholdings in Parichay Investments.

In five separate but similarly worded orders, Sebi said the individuals violated SAST (Substantial Acquisition of Shares and Takeovers) and PIT (Prohibition of Insider Trading) regulations. A fine of Rs 18 lakh has been imposed on Krunal Gopaldas Rana, Rs 6 lakh each on Sanjay Jethalal Soni and Krupa Sanjay Soni, Rs 3 lakh on Shweta Dhiren Agarwal and Rs 1 lakh on Mahesh Somabhai Desai, as per the orders.

The regulator had conducted an investigation in the scrip of Parichay during July to August, 2011. It was found that all the individuals' share holding crossed the threshold of 5 per cent and the change in the holding was more than 2 per cent on several occasions.

Under the SAST and PIT provisions, disclosures are required regarding the change in holding to the exchange and the company. But these individuals failed to make the requisite disclosures. PTI VHP

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