sebi:Order/GR/RK/2020-21/9874
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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
- Ind Barath Thermotek Pvt. Ltd.
Holding
The Noticee, Ind Barath Thermotek Pvt. Ltd., violated Regulations 52(1), 52(4) and 52(5) of the LODR Regulations by failing to submit financial results, disclose required line items, and submit a Debenture Trustee certificate for the half year ended March 31, 2019, and a penalty of Rs 3,00,000/- was imposed under Section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Ind Barath Thermotek 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 Ind Barath Thermotek Pvt. Ltd. Page 3 of 10 In view of the above I am the sole Independent Professional Director of the company without any shareholding in the Company, and in order to comply with the provisions of Companies Act, 2013, the Company ought to have a minimum two directors on its board. Due to this infirmity I have not been able to convene any General Meeting of the members of the company to suitably populate the Board and empower persons to act on behalf of the Company. In light of this, we request you to grant us 8 weeks’ time enabling me to convene a meeting of the members of the Company and seek necessary instructions from the shareholders of the Company in relation to the compliance with the SEBI (LODR) Guidelines.”
Adjudication Order in respect of Ind Barath Thermotek Pvt. Ltd. Page 4 of 10 In the light of this, we request you to grant us another 8 weeks’ time enabling me to obtain necessary instructions from the Majority shareholders of the Company in relation to the compliance with the SEBI (LODR) Guidelines.”
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Source: SecMarx — sebi:Order/GR/RK/2020-21/9874. 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.