sebi:Order/NH/YK/2024-25/30560
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 11B
- s. 11
- s. 15A
- s. 15
- s. 11(1)
- s. 15J
- s. 468
Regulations
- Reg. 30(2)
- Reg. 30(6)
- Reg. 101
Parties
- TIL Limited
Holding
The Noticee, TIL Limited, violated Regulation 30(2) and 30(6) of the LODR Regulations read with Clause 6 of Para A of Part A of Schedule III of LODR Regulations and SEBI Circular dated November 21, 2019 by making delayed disclosures of loan defaults in 11 instances, and a monetary penalty of Rs. 10,00,000/- was imposed under Section 15A(b) of the SEBI Act.
Full text
Adjudication order in the matter of TIL Limited Page 2 of 26 APPOINTMENT OF ADJUDICATING OFFICER 2. SEBI had appointed the undersigned as the Adjudicating Officer (hereinafter referred to as ‘‘AO’’) in the matter vide communique dated May , 2024 under Section 15-I of the SEBI Act read with Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “Adjudication Rules”), to inquire into and adjudge under the provisions of Section 15A(b) of the SEBI Act for the aforementioned violations of the provisions of law alleged to have been committed by the Noticee.
Adjudication order in the matter of TIL Limited Page 3 of 26 “Company had disclosed to the Stock Exchanges the events of default on 7th February 2022 & 11th January 2023 as per the attached intimations in accordance with the SEBI Circular dated 21st November 2019.”
Adjudication order in the matter of TIL Limited Page 4 of 26 7 Punjab National Bank 29.06.22 30.07.22 29.97 11.01.23 165 8 State Bank of India 30.06.22 31.07.22 32.27 11.01.23 164 9 South Indian Bank 15.07.22 15.08.22 22.71 11.01.23 149 10 Tata Capital Financial Services Ltd. 08.09.22 09.10.22 21.96 11.01.23 94 11 IDBI Bank 23.11.22 24.12.22 4.89 11.01.23 18
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Source: SecMarx — sebi:Order/NH/YK/2024-25/30560. 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.