sebi:EAD-8/KS/AA/AO/194/2018-19
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 without imposition of any monetary penalty
Provisions invoked
- s. 15
- s. 15H
Parties
- Hindustan Zinc Limited
Holding
The adjudication proceedings against Hindustan Zinc Limited for failure to submit the Sharepro audit report to SEBI in terms of the Whole Time Member order dated March 22, 2016 were disposed without imposition of any monetary penalty under Section 15HB.
Full text
Page 2 of 7 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 7 SEBI Act for its alleged failure to comply with the directions issued by Whole Time Member of SEBI vide order dated March 22, 2016.
Page 4 of 7 (b) Vide HZL's letter dated 21st July 2016, addressed to M/s Sharepro Services, all the records of the company were handed over to M/s Karvy Computershare (P) Ltd., copy of said Letter is attached as Annexure 'B' for your ready reference. (c) Vide HZL's Letter dated 17.08.2016, sent by email on 17.08.2016 to stock exchanges, it was already confirmed to the Stock Exchange, both BSE and NSE, that company had conducted a thorough check of all the records and system with regard to dividend paid, shares transferred etc. by the Sharepro for the last 10 years and did not find any irregularities. Copy of the said letter and email is attached as Annexure 'C for ready reference.
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/194/2018-19. 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.