sebi:Order/MC/VS/2019-20/6229
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Facts / Headnote
Violation established; penalty of Rs.5,00,000 imposed under Section 23E of the SCRA
Provisions invoked
- s. 15
- s. 19
- s. 11(1)
- s. 12A
- s. 23I
- s. 23J
- s. 23E
- s. 23
- s. 12
Regulations
- Reg. 38
Parties
- International Constructions Limited
Holding
The Noticee violated Rule 19A of the SCRR and Clause 40A of the erstwhile Listing Agreement read with Regulation 38 of the LODR Regulations by failing to achieve 25% minimum public shareholding by June 3, 2013 and complying only on January 25, 2019, and is liable under Section 23E of the SCRA. A penalty of Rs.5,00,000 was imposed.
Full text
Page 2 of 20 Adjudication Order in respect of International Constructions Limited in the matter of Non- Compliance with Minimum Public Shareholding Requirements
Page 3 of 20 Adjudication Order in respect of International Constructions Limited in the matter of Non- Compliance with Minimum Public Shareholding Requirements
Page 4 of 20 Adjudication Order in respect of International Constructions Limited in the matter of Non- Compliance with Minimum Public Shareholding Requirements
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Source: SecMarx — sebi:Order/MC/VS/2019-20/6229. 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.