sebi:Order/DSR/DP/2022-23/17934
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Facts / Headnote
Adjudication proceedings disposed without penalty; allegations not established
Provisions invoked
- s. 15
- s. 19
- s. 15H
Regulations
- Reg. 13
- Reg. 199
- Reg. 201
- Reg. 40
- Reg. 39(4)
Parties
- Cameo Corporate Services Ltd.
Holding
The adjudication proceedings against Cameo Corporate Services Ltd. initiated vide SCN dated November 30, 2021 were disposed of with no penalty, as the allegations of failure to exercise due diligence regarding banker attestation and issue of duplicate shares without identity proof were held not established.
Full text
In the matter of Cameo Corporate Services Limited Page 2 of 11 Type of Request No. of Requests No. of Companies Transfer 28,966 197 Demat 93,203 230 Remat 1,907 128 Transmission 72,033 178 Issue of Duplicate Shares 3,328 148 Change of address 8,301 166 Unclaimed Shares – Claim Processing 500 20 Dividend Revalidation 47,089 68
In the matter of Cameo Corporate Services Limited Page 3 of 11 g. Clause 1(c), 1(d) and 2(vii) of Schedule 1 of SEBI Circular Instructions to Registrars to an Issue/ Share Transfer Agents dated October 11, 1994; h. Clause 20 of General Norms for Processing of Documents of SEBI Circular RTI Circular No. 1 (2000-2001) dated May 09, 2001; i. Clause 23 of General Norms for Processing of Documents of SEBI Circular RTI Circular No. 1 (2000-2001) dated May 09, 2001; j. Annexure 9 of Clause 23 of SEBI Circular RTI Circular No. 1 (2000-2001) dated May 09, 2001; k. Clause 3.4 of SEBI Circular MRD/DoP/Cir-05/2007 dated April 27, 2007
In the matter of Cameo Corporate Services Limited Page 4 of 11 “The findings of inspection were forwarded to you via letter dated January 28, 2020 for your comments. Subsequently, you have submitted reply/ comments on the findings of the inspection via letter dated February 22,2020. On analysis of your replies to the findings of the inspection, the following discrepancies were observed for the period of inspection: a. Banker attestation obtained may be forged as at some places the bank name is “The Textile traders’ co –op bank ltd” and somewhere else it is ‘Textile trader’s co-op bank ltd”. Two stamps with different name of bank has been used- Folio no. K0013661. b. Cases where RTA has processed the request for issue of duplicate shares without obtaining any identity proof”
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