sebi:CO/EDF/DRA3/99/September/2016
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Facts / Headnote
Settlement - adjudication proceedings disposed
Regulations
- Reg. 17
- Reg. 95(1)
Parties
- SRS Real Infrastructure Limited
Holding
The adjudication proceedings against SRS Real Infrastructure Limited for violation of regulation 95(1) of the ICDR Regulations are disposed of by settlement upon payment of Rs.2,00,000 towards settlement charges.
Full text
shareholder’s approval is required. 4. The applicant had failed to complete the bonus issue within 2 months from the date of approval of Board of Directors on November 18, 2014 and instead completed the process only on January 19, 2015 resulting in the violation of the provisions of regulation 95(1) of the ICDR Regulations.
undertakings / waivers filed during the current settlement proceedings. 9. The settlement order passed on this the 28th day of September, 2016 shall come into force with immediate effect.
5. Pursuant to the Internal Committee meeting on April 28, 2016, vide letter dated April 28, 2016, the applicant proposed the revised consent terms to settle the aforesaid violation by offering to pay a sum of Rs.2,00,000 (Rupees Two Lakhs only) towards settlement charges .
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Source: SecMarx — sebi:CO/EDF/DRA3/99/September/2016. 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.