sebi:Order/BS/RG/2023-24/28875
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed (Rs. 1,00,000 for delay relating to equity shares and Rs. 1,00,000 for delay relating to warrants)
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 28A
- s. 73
Regulations
- Reg. 28(1)
- Reg. 4
- Reg. 160(f)
Parties
- Riddhi Corporate Services Ltd.
Holding
The Noticee violated Regulation 160(f) of ICDR Regulations by failing to seek in-principle approval on the same day as dispatch of EGM notice, and is liable to monetary penalty under Section 15A(b) of the SEBI Act aggregating Rs. 2,00,000.
Full text
Adjudication order in the matter of preferential issue of equity shares and warrants by Riddhi Corporate Services Limited Page 2 of 13
Adjudication order in the matter of preferential issue of equity shares and warrants by Riddhi Corporate Services Limited Page 3 of 13 SEBI, vide an email, acceded to the Noticee’s request for extension and the Noticee was advised to submit the reply by June 20, 2023. June 21, 2023 Hearing Notice was issued in the captioned matter and the Hearing was scheduled for June 30, 2023. Hearing Notice sent to the Noticee through email. June 22, 2023 The Noticee submitted reply to the SCN. June 26, 2023 Physical delivery of the Hearing Notice. June 30, 2023 The Noticee appeared for the hearing wherein it reiterated the
Adjudication order in the matter of preferential issue of equity shares and warrants by Riddhi Corporate Services Limited Page 4 of 13
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Source: SecMarx — sebi:Order/BS/RG/2023-24/28875. 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.