sebi:EAD-8/KS/AA/AO/210/2018-19
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Facts / Headnote
Penalty of Rs. 3,00,000 imposed on Subhtex India Limited under Section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Parties
- Subhtex India Limited
Holding
The Noticee, Subhtex India Limited, failed to comply with the directions issued by the Whole Time Member vide order dated March 22, 2016 to submit an audit report and shift RTA operations from Sharepro. A monetary penalty of Rs. 3,00,000 was imposed on the Noticee under Section 15HB of the SEBI Act.
Full text
Page 2 of 9 directed above shall be completed by the companies within a period of three 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 9 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 9 7. The Noticee did not avail of the hearing opportunity on October 09, 2018. In view of the same, the Noticee was granted a final opportunity of hearing in the matter on November 14, 2018 vide hearing notice dated November 01, 2018. I note from available records that the said hearing notice was delivered to the Noticee. However, the Noticee failed to avail of the final hearing opportunity on November 14, 2018.
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Source: SecMarx — sebi:EAD-8/KS/AA/AO/210/2018-19. 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.