sebi:Order/PM/SM/2021-22/11774
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Facts / Headnote
Penalty imposed on the Noticee for violation of regulation 52(1) of LODR Regulations, 2015
Provisions invoked
- s. 15A
- s. 15
- s. 15J
Regulations
- Reg. 52(1)
Parties
- Karnataka State Financial Corporation Limited
Holding
The Noticee violated regulation 52(1) of the LODR Regulations, 2015 by failing to submit half-yearly financial results for the period ended September 30, 2020 within the prescribed time of November 15, 2020, and a penalty of Rs. 1,00,000/- was imposed under section 15A(b) of the SEBI Act, 1992.
Full text
Adjudication order in respect of Karnataka State Financial Corporation Limited in the matter of non filing / delayed filing of financial results Page 2 of 12 Company) was one of the Companies which failed to comply with the provision of regulation 52(1) of LODR Regulations, 2015. Accordingly, SEBI initiated adjudication proceedings against the Noticee for the aforesaid non-compliance of regulation 52(1) of LODR Regulations, 2015.
Adjudication order in respect of Karnataka State Financial Corporation Limited in the matter of non filing / delayed filing of financial results Page 3 of 12 The debt securities of the Noticee is listed with National Stock Exchange (NSE). SEBI examined the compliance status of the Noticee with regard to the regulation 52(1) of LODR Regulations, 2015 and the information sought from the stock exchanges. From the NSE e-mail dated December 22, 2020, SEBI observed the following:
Adjudication order in respect of Karnataka State Financial Corporation Limited in the matter of non filing / delayed filing of financial results Page 4 of 12
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