sebi:EAD-8/KS/AA/AO/177/2018-19
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Facts / Headnote
Adjudication proceedings disposed of without penalty; allegation of non-compliance not established
Provisions invoked
- s. 15
- s. 15H
Parties
- M/s Hinduja Global Solutions Limited
Holding
The allegation that Hinduja Global Solutions Limited failed to comply with the Whole Time Member's order dated March 22, 2016 by not submitting the Sharepro audit report was held not established, and the adjudication proceedings initiated vide Show Cause Notice dated August 07, 2018 were disposed of without penalty.
Full text
Page 2 of 6 cases where violations are observed, in accordance with the provisions of law and inform SEBI accordingly. 12. Companies who are clients of Sharepro are also advised to carry out / switchover their activities related to a registrar to an issue and share transfer agent, either in- house or through another registrar to an issue or share transfer agent registered with SEBI. Sharepro shall provide the requisite cooperation to these companies for the purpose. ….”
Page 3 of 6 5. It was observed in the SCN that the Noticee was one of the clients of Sharepro. In terms of above referred directions of Whole Time Member of SEBI, the Noticee was required to conduct a thorough audit of the records and systems of Sharepro within a period of three months from the date of the above referred
Page 4 of 6 2018. During hearing, the AR reiterated the submissions given by the Noticee in its reply dated August 14, 2018.
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Source: SecMarx — sebi:EAD-8/KS/AA/AO/177/2018-19. 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.