The penalty has been imposed on Anand Laltaprasad Chaturvedi, Lyra Housing And Finance, Manju Sangla and Yashwant Sangla.
While Manju Sangla, Yashwant Sangla and Lyra are promoters of Linkson, Chaturvedi was its director during the period from February 1, 2002 to March 13, 2014.
According to Sebi, Chaturvedi sold 40,100 shares of Linkson on January 16, 2014 and 56,200 scrips on February 12, 2014. Being the firm's director, he had to make disclosures under PIT (Prohibition of Insider Trading) Regulations.
"It is established that Anand Laltaprasad Chaturvedi has failed to make necessary disclosures under... the PIT (Prohibition of Insider Trading) Regulations," Sebi said in an order.
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Lyra held 8.96 per cent of the total shares of Linkson at the end of December 2013.
Lyra was also required to make disclosures to the stock exchange and Linkson. However, Sebi noted that it has failed to make the same under PIT Regulations and SAST (Substantial Acquisition of Shares and Takeovers) Regulations.
According to Linkson's shareholding pattern for quarter ending December 2013, shares had been encumbered by Manju Sangla and Yashwant Sangla.
As the promoters of the firm, both of them also failed to make necessary disclosure for the shares encumbered and violated the SAST Regulations.