sebi:Order/PM/PA/2021-22/15465-15471
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Facts / Headnote
Adjudication proceedings concluded; penalties imposed on Noticees 2 to 6 (Noticee 1's proceedings disposed of separately vide order dated December 31, 2019); Noticees directed to remit penalties within 45 days.
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 12A
- s. 12
- s. 21
- s. 15H
- s. 24(1)
- s. 77A
- s. 15J
- s. 23A
- s. 23J
- s. 23
- s. 68
- s. 29
- s. 77A(2)
- s. 301
- s. 205
- s. 227
Regulations
- Reg. 4
- Reg. 3
- Reg. 13
- Reg. 200
- Reg. 2
- Reg. 3(a)
- Reg. 13(4)
- Reg. 31
- Reg. 13(5)
- Reg. 31(1)
- Reg. 31(3)
- Reg. 38
- Reg. 28(3)
Parties
- Deccan Chronicle Holdings Ltd. (Noticee 1)
- T. Venkattram Reddy, Chairman, DCHL (Noticee 2)
- T. Vinayak Ravi Reddy (Noticee 3)
- P. K. Iyer (Noticee 4)
- N. Krishnan, Executive Director (Finance), DCHL (Noticee 5)
- V. Shankar, Company Secretary, DCHL (Noticee 6)
- Noticee 7 (Statutory Auditor of DCHL)
Holding
The Adjudicating Officer found the Noticees liable for violations including understatement of loans and interest/finance charges in DCHL's financial statements, misleading buyback announcement without adequate free reserves, failure to disclose encumbered/pledged shares and invocation thereof, and various Listing Agreement non-compliances, and imposed penalties on Noticees 2 to 6.
Full text
_____________________________________________________________________________ Adjudication Order in respect of 7 Entities Page 2 of 97 In the matter of Deccan Chronicle Holdings Ltd.
_____________________________________________________________________________ Adjudication Order in respect of 7 Entities Page 3 of 97 In the matter of Deccan Chronicle Holdings Ltd.
_____________________________________________________________________________ Adjudication Order in respect of 7 Entities Page 4 of 97 In the matter of Deccan Chronicle Holdings Ltd.
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Source: SecMarx — sebi:Order/PM/PA/2021-22/15465-15471. 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.