sebi:Order/PM/GD/2022-23/17355-17363

SEBI · SEBI · 2019-01-02 · Prasanta Mahapatra, Adjudicating Officer

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Facts / Headnote

Penalty was imposed under section 15HB of the SEBI Act for non-compliance with SEBI’s directions. The penalty amount is not available in the supplied text.

Provisions invoked

• s. 15
• s. 19
• s. 15H
• s. 15J
• s. 27
• s. 27(1)
• s. 149
• s. 168
• s. 164(2)

Parties

• Sanraa Media Ltd.
• Mr. Annaswamy Venkatramani
• Mrs. Uma Karthikeyan
• Mr. Sukumar Subramanian
• Mr. Rajeev Agarwal
• Mr. Krishnan Rajagopal
• Mr. Rajendran Sivashankaran
• Krishna Kumar Santhana Gopalan
• Balachandran Thinniam Venkataraman

Holding

The Adjudicating Officer found non-compliance with the directions in SEBI’s order dated January 2, 2019 and imposed a penalty under section 15HB of the SEBI Act. The supplied text does not disclose the penalty amount.

Full text

Adjudication Order in the matter of Sanraa Media Ltd. Page 2 of 29 May 02, 2008 on the Luxembourg Stock Exchange, equivalent to 2,00,00,000 equity shares of Rs. 10 each. In this regard, Whole Time Member (WTM) of SEBI passed an order having order no. WTM/AB/EFD-1/DRA-1/13/2018-19 dated January 02, 2019 (hereinafter referred to as SEBI Order) under sections 11(1), 11(4) and 11B of the SEBI Act, 1992, in respect of Sanraa Media Ltd., Mr. Annaswamy Venkatramani., Mrs. Uma Karthikeyan, Mr. Sukumar Subramanian, Mr Rajeev Agarwal, Mr. Krishnan Rajagopal, Mr. Rajendran Sivashankaran and Clifford Capital Partners A.G.S.A. It was observed by SEBI that the directions in the said WTM order was not complied by the company and its directors and therefore, adjudication proceedings were initiated in the matter of Sanraa Media Limited.

Adjudication Order in the matter of Sanraa Media Ltd. Page 3 of 29 SHOW CAUSE NOTICE, REPLY AND HEARING 3. A Show Cause Notice dated November 20, 2020 (hereafter referred to as “SCN”) was issued to the all the entities in terms of the provisions of rule 4 of the Adjudication Rules, 1995 requiring the entities to show cause as to why an inquiry should not be held against it and why penalty, if any, should not be imposed on it under the provision of section 15HB of the SEBI Act. The

Adjudication Order in the matter of Sanraa Media Ltd. Page 4 of 29 directors of the company. Pursuant to the said letter, Noticee no. 2 vide letter dated May 13, 2019, Noticee no. 4 vide letter dated May 23, 2019, Noticee 5 vide letter dated May 15, 2019 interalia stated that they had already resigned from the company and that the company does not exist at its registered office. It was observed from the website of Ministry of Corporate Affairs (MCA) that apart from the Noticees 2 to 7, Noticees 8 to 10 are also the present directors of the Company.

Source: SecMarx — sebi:Order/PM/GD/2022-23/17355-17363. 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.