sebi:Adj/Kol/37/04

SEBI · SEBI · 2004-06-30 · SHRI JAYANTA JASH, Adjudicating Officer

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Facts / Headnote

Penalty imposed

Provisions invoked

• s. 15A
• s. 15

Regulations

• Reg. 17(3)
• Reg. 18(3)

Parties

• M/s Jenson & Nicholson (I) Ltd.

Holding

The company was found to have non-complied with Clause 51 of the Listing Agreement by failing to upload required financial and corporate information on the EDIFAR website for the period from September 2002 to June 2004, and a penalty of Rs. 10,000 was imposed.

Full text

2 of 6 1.0 ORDER OF APPOINTMENT: 1.1 The undersigned has been appointed as an Adjudicating Officer by Securities and Exchange Board of India in terms of an Order dated June 30, 2004, to conduct an enquiry into alleged non compliance with the requirements of Clause 51 of the Listing Agreement read with Regulation 17(3) {erstwhile Regulation 18(3)} of the SEBI (Central Listing Authority) Regulations, 2003 by M/s Jenson & Nicholson (I) Ltd.

3 of 6 3. SUBMISSION OF THE COMPANY 3.1 Shri Bhattacharjee has stated that the company received a letter dated October 7, 2002 from the National Stock Exchange regarding applicability of EDIFAR. He has submitted that after the receipt of the said letter from NSE, the company vide its letter dated November 12, 2002 made application to The Stock Exchange, Mumbai for obtaining the EDIFAR registration number, User ID and Password. He has stated that the company has received Password and User ID from NIC on February 7, 2003 and the financial information for the period from September 2002 to June 2004 has been uploaded on September 3, 2004. Shareholding pattern for the period December 2003 could not be submitted due to technical error on the site. 3.2 The company vide its letter dated August 11, 2004 has stated that the delay of about one and half years in uploading the information on EDIFAR was mainly due to the circumstances beyond the control of the management. Shri Bhattacharjee has further submitted during the hearing that the delay in uploading the shareholding pattern was mainly due to the fact that the Registrar did not provide the necessary information and that the delay in uploading the financial results was due to widespread agitation by the employees following shifting of the corporate office and the relocation of the registered office which effected the normal functioning very badly. The company has also stated that it has become financially sick. 3.3 Shri Bhattacharje

4 of 6 from NSE, the company vide its letter dated November 12, 2002 made application to The Stock Exchange, Mumbai for obtaining the EDIFAR registration number, User ID and Password. It is observed that the company received Password and User ID from NIC on February 7, 2003, but the financial information for the period from September 2002 to June 2004 has been uploaded EDIFAR site only on September 3, 2004. 4.2 Under clause 51 of the Listing Agreement the company was required to upload the the following financial statements/documents with effect from quarter ended September 2002 in the EDIFAR website. ? Financial Statements comprising of Balance Sheet, Profit and Loss Account and full version of annual report, half yearly financial statements including cash flow statements and quarterly financial statements ? Corporate Governance report ? Shareholding pattern statement ? Action taken against the company by any regulatory agency 4.3 It is observed from the records that the company uploaded the information on EDIFAR site on September 3, 2004 after receiving the show cause notice dated July 9, 2004 under SEBI (Procedure for holding inquiry and imposing penalty by Adjudicating Officer) Rules, 1995. 4.4. During the hearing Shri Bhattacharjee informed that the company has now obtained the ID and Password and has uploaded the following information on the EDIFAR. Period Statement Type 09-2002 Half yearly audited statement 12-2002 Quarterly statement 03-2003 Yearly audited statement 0

Source: SecMarx — sebi:Adj/Kol/37/04. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.