sebi:Order/KS/VC/2019-20/6663
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Facts / Headnote
Penalty imposed on the Noticee for violation of Regulation 31A(2) of LODR Regulations
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 28A
- s. 111(4)
- s. 59(1)
Regulations
- Reg. 1
- Reg. 31A
- Reg. 31A(2)
Parties
- Raj Kumar
Holding
The Noticee Raj Kumar was held liable for violating Regulation 31A(2) of the LODR Regulations by being reclassified from promoter to public shareholder without obtaining prior approval from the stock exchange (BSE), and a penalty of Rs. 2,00,000 was imposed.
Full text
Page 2 of 22 dated September 05, 2017 (hereinafter referred to as ‘final order’), WTM had vacated the said directions against the Company.
Page 3 of 22 provisions of Rule 4(1) of the Adjudication Rules, to show cause as to why an inquiry should not be held against him and why penalty, if any, should not be imposed on him under the provisions of Section 15HB of the SEBI Act for alleged violation of the relevant provision of LODR Regulations.
Page 4 of 22 director in any listed company, till such time these companies comply with minimum public shareholding requirement. restrain the directors of non-compliant companies from holding any new position as a director in any listed company, till such time these companies comply with minimum public shareholding requirement.” b. Further, SEBI vide confirmatory order against KPPL dated January 11, 2016 confirmed these directions. Subsequently, SEBI vide order dated September 05, 2017 vacated the directions issued vide aforesaid interim and confirmatory orders against KPPL. In addition to that vide aforesaid
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Source: SecMarx — sebi:Order/KS/VC/2019-20/6663. 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.