sebi:Order/BM/UR/2022-23/16259
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Facts / Headnote
Noticee found in violation of multiple SEBI Regulations and RRTI Circulars; penalty imposed under Section 15HB of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 13
- Reg. 199
- Reg. 14(1)
- Reg. 14(3)
- Reg. 18
- Reg. 53
- Reg. 14(2)(h)
- Reg. 39
- Reg. 53A
- Reg. 71
- Reg. 39(3)
- Reg. 39(2)
Holding
The Noticee was found to have violated Regulation 39(2) and 39(3) of SEBI (LODR) Regulations, 2015, Regulation 18(1) & (4) of SEBI (RTI/STA) Regulations, 1993, Regulation 53A of SEBI (Depositories and Participants) Regulations, 1996 r/w Regulation 71 of SEBI (Depositories and Participants) Regulations, 2018, and various clauses of RRTI Circular No.1 (94-95) and RRTI Circular No.1 (2000-2001), including obligations regarding single-point processing, timely issuance of duplicate share certificates, intimation to stock exchanges, and cooperation during inspection. A monetary penalty was imposed under Section 15HB of the SEBI Act, 1992.
Full text
Page 2 of 37 committed by the Noticee and the corresponding provisions of the securities laws are given in the tabulation below:
Page 3 of 37 RRTI Circular No.1 (94-95) dated 11/10/1994. 3. Issue of duplicate shares a) In certain cases Noticee processed the issue of duplicate shares beyond the specified timeline. b) In certain cases processing of duplicate share certificates has been done by the company and further the share certificates after issuance of duplicate has been sent by the company to the shareholders. c) Regarding loss of share certificates and issuance of the duplicate certificates, Noticee did not refer the matter to any of the stock exchanges where the company is/are listed. a) Regulation 39 (2) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and RRTI Circular no.1 (2000- 2001) dated May 09, 2001 clause 2 & 5 of Code of Conduct prescribed under Regulation 13 of SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993. b) Regulation 53A of SEBI (Depositories and Participants) Regulations, 1996 r/w Regulation 71 of SEBI (Depositories and Participants) Regulations, 2018 and Clause 2 (vii) with respect to the Records and documents to be maintained by STA prescribed under RRTI Circular No.1 (94-95) dated 11/10/1994.
Page 4 of 37 Disclosure Requirements) Regulation, 2015 & RRTI Circular no.1 (2000-2001) dated May 09, 2001 4. Processing of Miscellaneous Requests: Change of Address: In one case, Noticee took more than 7 days to update the address of the investor Change of Bank Account Details: Details sought by the inspection team not provided.
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