sebi:EAD-2/DSR/RG/116/2014
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Facts / Headnote
Charges not established; matter disposed of
Provisions invoked
- s. 15
- s. 12A
- s. 15H
Regulations
- Reg. 7
- Reg. 3
- Reg. 3(a)
Parties
- Crosseas Capital Services Pvt. Ltd
Holding
The Adjudicating Officer concluded that the charges against Crosseas Capital Services Pvt. Ltd under Section 12A(a), (b) and (c) of the SEBI Act read with Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a) of the PFUTP Regulations and Regulation 7 read with Clause A of Schedule II of the Broker Regulations do not stand established, and the matter was disposed of without penalty.
Full text
Page 2 of 15 Deposits (ICDs) and all amounts transferred / paid out of IPO proceeds to its directors or relatives of its directors or HUFs belonging to any of its directors or associate or subsidiaries or group companies and deposit the same in an escrow account together with all other IPO proceeds that were still lying unutilized with the company across all its bank / deposit accounts or in any investments including mutual funds. These directions were confirmed vide SEBI orders dated September 21, 2012 and October 05, 2012.
Page 3 of 15 shares. Only three NIIs have not sold the shares on first day. 52,32,525 shares have been allotted to 4824 retail applicants accounting to 77.86% of issue size within a range of 75 to 1495 shares per client. 1763 retail applicants applied through ASBA. 468 retail applicants, who were allotted 33,02,115 shares, have not sold on the listing day. 17 clients have bought and sold for more than 5 lakh shares who have not received the shares through IPO.
Page 4 of 15 Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) to inquire into and adjudge under Section 15HA and 15HB of the Act the alleged violation of the provisions of law by the Noticee.
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Source: SecMarx — sebi:EAD-2/DSR/RG/116/2014. 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.