sebi:Order/GR/RK/2020-21/10153
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Facts / Headnote
Penalty imposed on the Noticee for violations of LODR Regulations
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 52(4)
- Reg. 52
- Reg. 52(1)
- Reg. 52(5)
- Reg. 5
Parties
- Genie Commercial Ventures Pvt. Ltd.
Holding
The Noticee, Genie Commercial Ventures Pvt. Ltd., violated Regulations 52(1), 52(4) and 52(5) of the LODR Regulations by failing to submit half-yearly financial results for the half year ended March 31, 2019, failing to disclose required line items, and failing to submit a debenture trustee certificate, and a penalty of Rs 3,00,000/- was imposed under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Genie Commercial Ventures Pvt. Ltd. Page 2 of 9 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 Genie Commercial Ventures Pvt. Ltd. Page 3 of 9 However, the Noticee neither appeared for the said hearing nor filed any reply in this regard.
Adjudication Order in respect of Genie Commercial Ventures Pvt. Ltd. Page 4 of 9 Regulation 52(4) “The listed entity, while submitting half yearly / annual financial results, shall disclose the following line items along with the financial results: (a) credit rating and change in credit rating (if any); (b) asset cover available, in case of non-convertible debt securities; (c) debt-equity ratio; (d) previous due date for the payment of interest / dividend for non-convertible redeemable preference shares / repayment of principal of non-convertible preference shares / non-convertible debt securities and whether the same has been paid or not; and, (e) next due date for the payment of interest/ dividend of non-convertible preference shares /principal along with the amount of interest / dividend of non-convertible preference shares payable and the redemption amount; (f) debt service coverage ratio; (g) interest service coverage ratio; (h) outstanding redeemable preference shares (quantity and value); (i) capital redemption reserve/debenture redemption reserve; (j) net worth; (k) net profit after tax; (l) earnings per share: Provided that the requirement of disclosures of debt service coverage ratio, asset cover and interest service coverage ratio shall not be applicable for banks or non-banking financial companies registered with the Reserve Bank of India.
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Source: SecMarx — sebi:Order/GR/RK/2020-21/10153. 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.