sebi:EAD-8/KS/AA/AO/199/2018-19
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 24(1)
- s. 55A
- s. 127
Parties
- Leone Infrastructure Limited
Holding
The adjudication proceedings against Leone Infrastructure Limited for alleged failure to comply with the Whole Time Member order dated March 22, 2016 were disposed of without penalty as SEBI has no jurisdiction over an unlisted company.
Full text
Page 2 of 6 months from the date of this order and thereafter a report shall be submitted to SEBI by the companies in that regard. Further, within a period of six months from the date of this order, the companies shall take appropriate action, in cases where violations are observed, in accordance with the provisions of law and inform SEBI accordingly.
Page 3 of 6 show-cause as to why an inquiry should not be initiated against the Noticee and why penalty should not be imposed upon it under Section 15HB of the 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 6 7. The Noticee vide letter dated September 21, 2018 submitted its reply to the SCN and inter alia made the following submissions: “1. At the outset it is submitted that we are an unlisted public entity having 485 shareholders as on date. Our Company has a Paid-up Share Capital of Rs. 12,89,00,000/- divided into 1,28,90,000 shares of Face Value of Rs. 10/- each. SI. No. Mode Quantity (Nos) Folio (Nos)
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Source: SecMarx — sebi:EAD-8/KS/AA/AO/199/2018-19. 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.