sebi:Order/GR/RK/2020-21/9415
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Facts / Headnote
Penalty of Rs 3,00,000 imposed on the Noticee under Section 15A(b) of the SEBI Act for violation 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(4)
- Reg. 52
- Reg. 52(1)
- Reg. 52(5)
- Reg. 5
Parties
- Raheja Icon Entertainment Pvt. Ltd.
Holding
The Noticee violated Regulations 52(1), 52(4) and 52(5) of the LODR Regulations for the half year ended March 31, 2019 and is liable for monetary penalty under Section 15A(b) of the SEBI Act. A penalty of Rs 3,00,000 was imposed on Raheja Icon Entertainment Pvt. Ltd.
Full text
Adjudication Order in respect of Raheja Icon Entertainment Pvt. Ltd. Page 2 of 10 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 Raheja Icon Entertainment Pvt. Ltd. Page 3 of 10 making HYC under Regulations 52(1), 52(4) and 52(5) SEBI (LODR) Regulations was merely procedural and technical in nature, due to inadvertence and was totally devoid of any malafide intention. As regards the table above, it is submitted that we have disclosed our Financial Results to BSE on November 14, 2019 and the acknowledgement of the same has been provided with our previous Reply. The said disclosure has been made with a delay of 6 months from the due date of disclosure which is only because of some technical and procedural issues. We had also submitted the audited financial results on July 31, 2020 and September 09, 2020 to BSE. We submit that we have also duly submitted the requisite documents to the Debenture Trustee as required under Regulation 52(5), however the confirmation is yet awaited from the Debenture Trustee.”
Adjudication Order in respect of Raheja Icon Entertainment 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/2020-21/9415. 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.