sebi:Order/SD/KS/2021-22/15504
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Facts / Headnote
Noticee found in violation of multiple regulations of SEBI (NCRPS) Regulations, 2013; penalty proceedings concluded (penalty amount not specified in extracted text)
Provisions invoked
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 73
- s. 15J
- s. 28A
- s. 67(3)
- s. 67
- s. 56
- s. 73(1)
Regulations
- Reg. 4(2)(a)
- Reg. 67(3)
Parties
- Shreenath Mhaskoba Sakhar Karkhana Limited
Holding
The Noticee was held to have violated Regulations 4(2)(a), 4(2)(b), 4(2)(c), 4(2)(d), 5, 6, 7, 8, 9, 13, 15, 16, 16B(1), and 22 of the SEBI (NCRPS) Regulations, 2013 by making a public issue of NCRPS in FY 2013-14 without complying with the applicable regulations. The preliminary objections of the Noticee regarding delay/laches in issuance of the SCN were rejected.
Full text
Adjudication Order in the matter of Shreenath Mhaskoba Sakhar Karkhana Limited Page 2 of 27 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under the provisions of section 15HB of the SEBI Act for the aforementioned alleged violation of the provisions of law by the Noticee. SHOW CAUSE NOTICE, HEARING AND REPLY
Adjudication Order in the matter of Shreenath Mhaskoba Sakhar Karkhana Limited Page 3 of 27 of which 133 investors were allotted NCRPS prior to the date of notification (i.e. June 12, 2013) of SEBI NCRPS Regulations and 632 investors after the notification. vi. Therefore, in view of the above, It is alleged that the Noticee has violated the Regulation 4(2)(a) , 4(2)(b), 4(2)(c), 4(2)(d), 5, 6 , 7, 8, 9, 13, 15, 16, 16(B.(1), 22 of SEBI (NCRPS) Regulations:
Adjudication Order in the matter of Shreenath Mhaskoba Sakhar Karkhana Limited Page 4 of 27 the order appointing Adjudicating Order and requested to not proceed in the matter till the application is decided by the Hon’ble Whole Time Member.
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Source: SecMarx — sebi:Order/SD/KS/2021-22/15504. 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.