sebi:Order/MC/HP/2021-22/11534
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Facts / Headnote
Adjudication proceedings disposed of; all alleged violations not established
Provisions invoked
- s. 15A
- s. 15J
- s. 15(1)
Regulations
- Reg. 55
- Reg. 46
- Reg. 57(1)
- Reg. 52(4)
- Reg. 60(2)
- Reg. 56
- Reg. 57(2)
- Reg. 60(1)
Parties
- WS Industries (India) Limited
Holding
All alleged violations of LODR Regulations (46, 52(4), 55, 56, 57(1), 57(2), 60(1), and 60(2)) against WS Industries (India) Limited were not established, and the adjudication proceedings were disposed of without any penalty.
Full text
Adjudication Order in the matter of WS Industries (India) Limited Page 2 of 16 SHOW CAUSE NOTICE, REPLY AND HEARING 3. Show Cause Notice No. EAD5/MC/HP/5989/1/2021 dated March 12, 2021 (hereinafter referred to as ‘SCN’), was issued to the Noticee in terms of Rule 4(1) of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’), to show cause as to why an inquiry should not be held and penalty not be imposed against the Noticee in terms of Section 15A(b) and 15HB of SEBI Act for the aforesaid alleged violations.
Adjudication Order in the matter of WS Industries (India) Limited Page 3 of 16 results. It was observed from the information provided by the Noticee and BSE that Noticee has submitted the financial results for the half year ended September 30, 2017 with a delay of 25 days. Therefore, it was alleged that Noticee has not complied with Regulation 52(4) of LODR Regulations.
Adjudication Order in the matter of WS Industries (India) Limited Page 4 of 16 quarter ended June 30, 2017 and principal payment was due on September 30, 2017, the Noticee was required to submit the certificate for interest or principal in terms of Regulation 57(1) of LODR Regulations. Therefore, it was alleged that Noticee has violated the Regulation 57(1) of LODR Regulations.
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Source: SecMarx — sebi:Order/MC/HP/2021-22/11534. 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.