sebi:Order/GR/RK/2020-21/9663
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Facts / Headnote
Penalty of Rs 2,00,000 imposed under Section 15A(b) for violations of Regulations 52(1) and 52(4) of LODR Regulations; charge under Regulation 52(5) dropped.
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
- Kapstone Constructions Pvt. Ltd.
Holding
The Noticee violated Regulations 52(1) and 52(4) of LODR Regulations by late submission of half-yearly financial results for period ended March 31, 2019, but complied with Regulation 52(5), and is liable to Rs 2,00,000 penalty under Section 15A(b) of the SEBI Act.
Full text
Adjudication Order in respect of Kapstone Constructions 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 Kapstone Constructions Pvt. Ltd. Page 3 of 10 The Company has only two debenture holders (i) Company’s holding company and (ii) another is an Investor. As Company is private limited Company and has only one outsider debenture holder, who is well informed of applicability of new accounting standard (Ind AS 115) no party has been adversely affected. It may further be noted that the Company has filed its audited financial statements for the period ending March 31, 2019 with the Stock Exchange on September 28, 2019.
Adjudication Order in respect of Kapstone Constructions Pvt. Ltd. Page 4 of 10 “The listed entity shall prepare and submit un-audited or audited financial results on a half yearly basis in the format as specified by the Board within forty-five days from the end of the half year to the recognised stock exchange(s). Provided that in case of entities which have listed their equity shares and debt securities, a copy of the financial results submitted to stock exchanges shall be provided to Debenture Trustees on the same day the information is submitted to stock exchanges.”
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Source: SecMarx — sebi:Order/GR/RK/2020-21/9663. 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.