sebi:EAD-8/KS/AA/AO/180/2018-19
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceedings disposed of without penalty - allegation not established
Provisions invoked
- s. 15
- s. 15H
Parties
- M/s Sarda Energy & Minerals Limited
Holding
The Noticee had complied with the Whole Time Member's order dated March 22, 2016 by submitting the audit report on Sharepro to SEBI before the given deadline, so the allegation of failure to comply was not established and the adjudication proceedings initiated vide Show Cause Notice dated August 07, 2018 were disposed of.
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 7. In the interest of natural justice, an opportunity of hearing was provided to the Noticee on August 28, 2018 vide hearing notice dated August 20, 2018. Shri M. K. Maheshwari, Shri V. Raju and Shri Vinay Chauhan, Advocate appeared as the Authorized Representatives (‘ARs’) on behalf of the Noticee in the hearing on August 28, 2018. During hearing, the AR reiterated the submissions given by the Noticee in its reply dated August 14, 2018.
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-8/KS/AA/AO/180/2018-19. 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.