sebi:Order/BM/JR/2022-23/18792
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Facts / Headnote
Penalty imposed on the Noticee for violations of LODR Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15H
- s. 15J
- s. 28A
- s. 92
Regulations
- Reg. 15
- Reg. 27
- Reg. 51
- Reg. 51(1)
- Reg. 52
- Reg. 6(1)
- Reg. 7(3)
- Reg. 13(3)
- Reg. 52(1)
- Reg. 52(4)
- Reg. 52(8)
- Reg. 62
- Reg. 54(1)
- Reg. 56
- Reg. 57(1)
- Reg. 57(2)
- Reg. 25
- Reg. 52(5)
- Reg. 50(1)
- Reg. 56(1)
Parties
- Futurefone Limited
Holding
The Noticee Futurefone Limited was found to have violated regulations 6(1), 7(3), 13(3), 50(1), 51(1), 52(1), 52(4), 52(5), 52(8), 54(1), 56(1)(d), 57(1), 57(2) and 62 of the LODR Regulations, and a total penalty of Rs. 4,00,000/- was imposed under sections 15HB and 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Futurefone Limited Page 2 of 20 APPOINTMENT OF ADJUDICATING OFFICER 3. The undersigned was appointed as the Adjudicating Officer vide Communiqué dated March 11, 2022 to conduct adjudication proceedings in the manner specified under Rule 4 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “Rules”) for the alleged violations committed by the Noticee.
Adjudication Order in respect of Futurefone Limited Page 3 of 20 nothing to offer in its defense and therefore, it has admitted to the allegations levelled against the Noticee in the SCN. In this context, Hon’ble SAT in the matter of Sanjay Kumar Tayal vs SEBI, vide Order dated February 11, 2014 held that “appellants have neither filed reply to show cause notices issued to them nor availed opportunity of personal hearing offered to them in the adjudication proceedings and, therefore, appellants are presumed to have admitted to the charges levelled against them in the show cause notice.”
Adjudication Order in respect of Futurefone Limited Page 4 of 20 13(3) The listed entity shall file with the recognised stock exchange(s) on a quarterly basis, within twenty one days from the end of each quarter, a statement giving the number of investor complaints pending at the beginning of the quarter, those received during the quarter, disposed of during the quarter and those remaining unresolved at the end of the quarter.
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Source: SecMarx — sebi:Order/BM/JR/2022-23/18792. 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.