sebi:Order/GR/RK/2020-21/10029
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Facts / Headnote
Penalty imposed on the Noticee for violations of Regulations 52(1), 52(4) and 52(5) of LODR Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 52(1)
- Reg. 52(4)
- Reg. 52
- Reg. 52(5)
- Reg. 5
Parties
- Embassy Property Development Pvt. Ltd.
Holding
The Noticee violated Regulations 52(1), 52(4) and 52(5) of the LODR Regulations by failing to timely submit financial results, disclose specified line items, and submit a debenture trustee certificate for the half year ended March 31, 2019, and is liable to a monetary penalty of Rs 3,00,000 under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Embassy Property Development Pvt. Ltd. Page 2 of 10 and Imposing Penalties) Rules, 1995 (hereinafter, Rules) to enquire into and adjudge under Section 15A(b) the alleged violations of Regulations 52(1), 52(4) and 52(5) of LODR Regulations by the Noticee.
Adjudication Order in respect of Embassy Property Development Pvt. Ltd. Page 3 of 10 and need to carry out various technical evaluations with regards to the method of accounting of the investment of Embassy Office Parks REIT in its books. EPDPL had to take decisions on the relationship between Embassy Office Parks REIT and itself, to established whether the investment should be carried at cost or carried at fair value;
Adjudication Order in respect of Embassy Property Development Pvt. Ltd. Page 4 of 10 a. Whether the Noticee has violated the provisions of Regulation 52(1), 52(4) and 52(5) of the LODR Regulations? b. Does the violation, if any, on the part of the Noticee attract monetary penalty under Section 15 A(b) of the SEBI Act? c. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in Section 15 J of the SEBI Act?
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Source: SecMarx — sebi:Order/GR/RK/2020-21/10029. 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.