sebi:Order/GR/BM/2022-23/18221-18226
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Facts / Headnote
Penalties imposed on Noticee Nos. 1, 2 and 6 for violations of SEBI Act, 1992 and PFUTP Regulations, 2003
Provisions invoked
- s. 11B
- s. 15
- s. 12A
- s. 15H
- s. 27
- s. 15J
- s. 28A
- s. 21
- s. 23
- s. 23E
Regulations
- Reg. 3
- Reg. 200
- Reg. 2(c)
- Reg. 3(a)
Parties
- Kaashyap Technologies Ltd. (Noticee No. 1)
- Mr. A. Venkatramani (Noticee No. 2)
- Noticee No. 3
- Noticee No. 4
- Noticee No. 5
- Mr. R. Gopalan (Noticee No. 6)
Holding
Kaashyap Technologies Ltd. and its directors (Noticee Nos. 1, 2 and 6) were held liable for fraudulent GDR issuance through a self-financing arrangement with Clifford, in violation of Section 12A of the SEBI Act and PFUTP Regulations, and penalties of Rs. 25 lakhs (KTL), Rs. 10 lakhs (Venkatramani) and Rs. 10 lakhs (Gopalan) were imposed.
Full text
Adjudication Order in the matter of disclosures by Kaashyap Technologies Limited in respect of its GDR issue Page 2 of 39
Adjudication Order in the matter of disclosures by Kaashyap Technologies Limited in respect of its GDR issue Page 3 of 39
Adjudication Order in the matter of disclosures by Kaashyap Technologies Limited in respect of its GDR issue Page 4 of 39
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Source: SecMarx — sebi:Order/GR/BM/2022-23/18221-18226. 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.