sebi:EAD-8/KS/AA/AO/227/2018-19
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Facts / Headnote
Adjudication proceedings disposed without imposition of any monetary penalty
Provisions invoked
- s. 15
- s. 15H
Parties
- MPF Systems Limited
Holding
The Noticee failed to submit the audit report to SEBI as directed by the Whole Time Member order dated March 22, 2016, but the adjudication proceedings initiated vide Show Cause Notice dated August 07, 2018 were disposed without imposition of any monetary penalty.
Full text
Page 2 of 8 appropriate action, in cases where violations are observed, in accordance with the provisions of law and inform SEBI accordingly.
Page 3 of 8 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 8 of the Noticee. During hearing, the AR submitted a copy of audit report dated August 10, 2016 by M/s Ramesh Chandra Mishra & Associates, Company Secretary in Practice. The AR Shri Ramesh Mishra submitted that he had conducted the audit in terms of SEBI Order dated March 22, 2016 for the Noticee. The AR undertook to submit the proof of appointment of company secretary by the Noticee for conducting the audit, the proof of acceptance by the company secretary for carrying out the said audit and the proof of submission of report by the company secretary to the Noticee. The AR further undertook to make post hearing submissions in the matter latest by October 22, 2018.
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Source: SecMarx — sebi:EAD-8/KS/AA/AO/227/2018-19. 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.