sebi:EAD-2/DSR/RG/909/2018
Facts / Headnote
Monetary penalty of Rs. 2,00,000 imposed on the Noticee under Section 15HB of the SEBI Act, 1992
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15J
- s. 15F
- s. 67(3)
Regulations relied on
- SEBI (Debenture Trustees) Regulations, 1993 — 13A(b)
- SEBI (Debenture Trustees) Regulations, 1993 — 15(1)(g)(i)
- SEBI (Debenture Trustees) Regulations, 1993 — 15(1)(g)(iii)
- SEBI (Debenture Trustees) Regulations, 1993 — 15(1)(g)(iv)
- SEBI (Debenture Trustees) Regulations, 1993 — 15(1)(i)
- SEBI (Debenture Trustees) Regulations, 1993 — 15(1a)
- SEBI (Debenture Trustees) Regulations, 1993 — 16
- SEBI (Debenture Trustees) Regulations, 1993 — 17(1)
- SEBI (Debenture Trustees) Regulations, 1993 — 18(1)(e)
Parties
- Indian Overseas Bank Limited
Holding
The Noticee, Indian Overseas Bank Limited, violated Regulation 13A(b), Regulations 15(1)(i), 15(1A), 15(1)(g)(i), (iii), (iv), 17(1), 18(1)(e) and Clauses 3, 4, 9 and 19 of the Code of Conduct read with Regulation 16 and related circular clauses, and is liable for monetary penalty under Section 15HB of the SEBI Act, 1992. A penalty of Rs. 2,00,000 was imposed.
Full text
Page 2 of 17 (f) Non-availability of details of interest payments made to the debenture holders in respect of all the outstanding debt issues. (g) Non-maintenance of comprehensive database of issues handled. (h) Non availability of date of dispatch / credit of debentures to debenture holders in respect of all the issues.
Page 3 of 17 6. Thereafter, vide letter dated December 04, 2017 (received on December 12, 2017), the Noticee had acknowledged the receipt of the SCN dated October 23, 2017 and further requested time to file its reply in the matter. Vide letter dated December 16, 2017, the Noticee submitted its reply to the SCN. Further, on the scheduled date of hearing, the Authorized Representative (AR) appeared on behalf of the Noticee and made oral submissions by reiterating the submissions made in the reply dated December 16, 2017 in the matter.
Page 4 of 17 (ii) The body corporate has been referred to Board of Industrial and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act, 1985, Prior to commencement of the Securities and Exchange Board of India (Debenture Trustee)(Amendment) Regulations, 2003.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:EAD-2/DSR/RG/909/2018. 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.