sebi:EAD-8/KS/AA/AO/198/2018-19
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Facts / Headnote
Adjudication proceedings initiated vide Show Cause Notice dated August 07, 2018 disposed without imposition of any monetary penalty
Provisions invoked
- s. 15
- s. 15H
Parties
- Max Alert Systems Limited
Holding
The adjudication proceedings initiated against Max Alert Systems Limited for alleged failure to comply with the Whole Time Member directions dated March 22, 2016 were disposed without imposition of any monetary penalty under Section 15HB of the SEBI Act.
Full text
Page 2 of 14 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 14 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 14 where violations are observed, in accordance with the provisions of law and inform SEBI accordingly. 12) Companies who are clients of Sharepro are 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.
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Source: SecMarx — sebi:EAD-8/KS/AA/AO/198/2018-19. 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.