sebi:1300692875098
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Facts / Headnote
Warning issued to the Registrar
Regulations
- Reg. 25
- Reg. 26(1)
Parties
- M/s. Karvy Consultants Ltd.
Holding
The Chairman, SEBI, agreeing with the Enquiry Officer's recommendation, directed that a warning be issued to M/s. Karvy Consultants Ltd. for failing to act carefully and diligently while discharging its duties as Registrar, and further directed it to strictly adhere to SEBI rules, regulations, circulars and guidelines in future.
Full text
On the basis of these findings of the investigations, an Enquiry Officer was appointed by SEBI vide order dated 26th April 2000 under Regulation 25 of SEBI (Registrars to an Issue and Share Transfer Agents) Rules and Regulations, 1993 to enquire into the prima facie violations committed by the Registrar. The Enquiry Officer, thereafter, proceeded with the enquiry and issued a Show Cause Notice to the Registrar, vide letter dated 7th December 2000. A reply to the Show Cause Notice was received from the Registrar vide letter 16th January 2001. Opportunity of personal hearing was also given by the Enquiry Officer on 18.09.2001 at SEBI, HO, Mumbai. Sh.Parthasarathy, Chairman and Shri Ramaswamy, Vice President, attended the hearing on behalf of the Registrar and made submissions. The Enquiry Officer, on completion of enquiry process had recommended that a warning be issued to the Registrar that violations in future would be viewed seriously. Pursuant to the submission of Enquiry Report, a Show Cause Notice dated 17th April 2002, under Regulation 26(1) of SEBI (Registrars to an Issue and Share Transfer Agents) Rules and Regulations, 1993 was issued to the Registrar enclosing a copy of the Enquiry Report. Vide letter dated 8th May 2002, the Registrar replied to the Show Cause Notice. An opportunity of personal hearing before Chairman SEBI was given to the Registrar on 26th August 2002 which was duly attended by Sh.Ramaswamy, Vice President and Sh.S.G.Subramanian, Vice President, who
Place : Mumbai G.N.BAJPAI Date : 10.10.02 CHAIRMAN SECURITIES AND EXCHANGE BOARD OF INDIA
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