sebi:Order/AK/AS/2023-24/28354-28355
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Facts / Headnote
Noticee No. 1 held liable and penalized Rs. 2,00,000; Noticee No. 2 held to have violated Regulation 15(1)(r) but given lenient view on penalty and held not liable under Regulation 15(1)(s).
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 28A
Regulations
- Reg. 7
- Reg. 8
- Reg. 21(2)
- Reg. 15(1)
- Reg. 21(1)
- Reg. 19(3)
- Reg. 15(1)(s)
- Reg. 15(1)(r)
- Reg. 19A(1)
- Reg. 21B
Parties
- Janapriya Engineers Syndicate Pvt Ltd
Holding
Noticee No. 1 violated Regulation 19A(1), Regulation 19(3) and 21(2) read with Schedule I of SEBI (ILDS) Regulations and Clauses D.12 and D.14 of SEBI Circular dated November 03, 2020 read with Regulation 21B, attracting penalty under Section 15A(b) of Rs. 2,00,000; Noticee No. 2 violated Regulation 15(1)(r) but not Regulation 15(1)(s), with lenient view on penalty for Noticee No. 2.
Full text
Adjudication Order in respect of two entities in the matter of Janapriya Engineers Syndicate Pvt Ltd Page 2 of 21 2. SEBI observed from the findings of the aforementioned examination that Noticee No. 1 allegedly violated the provisions of Regulation 19A(1); and Regulation 19(3) and 21(2) read with Schedule I of SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (hereinafter referred to as “SEBI (ILDS) Regulations”) and Clause D.12 and D.14 of SEBI Circular No. SEBI/HO/MIRSD/CRADT/CI/P/2020/ 218 dated November 03, 2020 read with Regulation 21B of SEBI (ILDS) Regulations. Further, SEBI also observed that Noticee No. 2 allegedly violated the provisions of Regulation 15(1)(r) and 15(1)(s) of SEBI (Debenture Trustees) Regulations, 1993 (hereinafter referred to as “SEBI (DT) Regulations”).
Adjudication Order in respect of two entities in the matter of Janapriya Engineers Syndicate Pvt Ltd Page 3 of 21 Representative of the Noticee made submissions relying upon the response dated June 20, 2023. Thereafter, Noticee submitted revised response vide email dated July 04, 2023, and requested that the earlier response dated June 20, 2023 submitted in the matter might be ignored. Accordingly, the response dated July 04, 2023 has been considered as the final response of the Noticee in the matter.
Adjudication Order in respect of two entities in the matter of Janapriya Engineers Syndicate Pvt Ltd Page 4 of 21 5.5. If yes, whether the violations, if any, attract monetary penalty under the provisions of Section 15 A(b) and 15HB of the SEBI Act, 1992, as applicable? If so, what quantum of monetary penalty should be imposed on the Noticees after taking into consideration the factors mentioned in Section 15J of the SEBI Act, 1992?
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