sebi:Order/GR/PU/2022-23/22341
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Facts / Headnote
Penalty imposed on the Noticee for violations of disclosure obligations under LODR Regulations, Loan Default Circular, and Listing Agreement read with Section 21 of SCRA.
Provisions invoked
- s. 28A
- s. 24
- s. 21
- s. 23
- s. 23E
- s. 23J
- s. 23A
- s. 32A
Regulations
- Reg. 30(2)
- Reg. 17
- Reg. 17(7)
Parties
- CG Power and Industrial Solutions Ltd.
Holding
The Noticee violated para 3(C1) r/w para 3(B)(i) and para 3(C2) of the Loan Default Circular r/w Point No. 6 of Para A of Part A of Schedule III of LODR Regulations r/w Regulation 30(2) of LODR Regulations read with Clause 2(i) of the Listing Agreement read with Section 21 of SCRA, but did not violate Para H of Part A of Schedule II r/w Regulation 17(7) of LODR Regulations. A penalty of Rs. 5,00,000 was imposed under Section 23E of SCRA, payable subject to the outcome of the pending appeal in Suzlon Energy Ltd. v. SEBI before the Supreme Court.
Full text
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Source: SecMarx — sebi:Order/GR/PU/2022-23/22341. 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.