sebi:EAD-8/KS/AA/AO/230/2018-19
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Facts / Headnote
Penalty of Rs. 1,50,000 imposed on Rainbow Papers Limited under Section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
- s. 14
- s. 33(5)
- s. 13(1)
- s. 14(1)
- s. 14(4)
- s. 31
- s. 33
Regulations
- Reg. 13(1)
Parties
- Rainbow Papers Limited
Holding
The Noticee failed to comply with the directions issued by the Whole Time Member of SEBI vide order dated March 22, 2016 by not conducting the audit of Sharepro and not submitting the audit report. A monetary penalty of Rs. 1,50,000 under Section 15HB of the SEBI Act was imposed on Rainbow Papers Limited.
Full text
Page 2 of 12 appropriate action, in cases where violations are observed, in accordance with the provisions of law and inform SEBI accordingly.
Page 3 of 12 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 12 escrow account. 3. Trading in shares of the company is minimal and we attach total transfers effected by company through RTA as a proof. The same are also filed with ROC on regular basis.
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Source: SecMarx — sebi:EAD-8/KS/AA/AO/230/2018-19. 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.