sebi:DSR/AO-07/2008
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Facts / Headnote
Penalty imposed on MHL for violations of SAST Regulations
Provisions invoked
- s. 15A
- s. 15
Regulations
- Reg. 6
- Reg. 8(3)
- Reg. 6(2)
- Reg. 6(4)
Parties
- MHL
Holding
MHL was found to have committed repetitive defaults in complying with Regulations 6(2), 6(4) and 8(3) of SAST Regulations, and a monetary penalty of Rs. 3,00,000 was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
Page 2 of 9 4. Pursuant to the acquisition, letter of offer was filed with SEBI. After examining the letter of offer, it was observed that there was a delay on the part of MHL in complying with the provisions of Regulations 6(2), 6(4) & 8(3) of SAST Regulations and the details are as under: No
Page 3 of 9 APPOINTMENT OF AO 6. I was appointed as Adjudicating Officer vide order dated July 13, 2007 to inquire into and adjudge under Section 15A (b) of the Securities and Exchange Board of India Act, 1992, the alleged violation of Regulation 6(2), 6(4) for the year 1997 and Regulation 8(3) from 1998 till 2003 and 2005 committed by MHL.
Page 4 of 9 and there was delay in complying with Regulation 6(2) and 6(4) for the year 1997. In support of this, a copy of the letter dated January 19, 2004 issued by BSE to MHL was also enclosed along with the said letter of MHL.
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Source: SecMarx — sebi:DSR/AO-07/2008. 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.