sebi:Order/SM/DD/2022-23/17375
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Facts / Headnote
Penalty of Rs.4,00,000 imposed on Noticee under Section 15HB of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
- s. 2(60)
- s. 66
Regulations
- Reg. 29
- Reg. 9A
- Reg. 31(2)
- Reg. 9A(f)
Parties
- CB Management Services (P) Limited
Holding
The Adjudicating Officer held that CB Management Services (P) Limited violated Regulation 31(2) of LODR Regulations read with Clauses 2 and 3 of Schedule III of RTI/STA Regulations and imposed a penalty of Rs.4,00,000 under Section 15HB of the SEBI Act.
Full text
Adjudication Order in respect of CB Management Services (P) Ltd. in the matter of Assam Company India Ltd. Page 2 of 20 violated Regulation 31(2) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (herein after referred to as “LODR Regulations”) and Clauses 2 and 3 of Schedule III of Securities and Exchange Board of India (Registrar to Issue and Share Transfer Agents) Regulations, 1993 (herein after referred to as “RTI/STA Regulations”). Accordingly, SEBI initiated Adjudication proceedings against Noticee under Section 15HB of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’), for the aforesaid alleged violation by it.
Adjudication Order in respect of CB Management Services (P) Ltd. in the matter of Assam Company India Ltd. Page 3 of 20 the difference between total shares lying in dematerialized form and physical form and issued shares of the Company to SEBI. The details of the same are summarized hereunder:-
Adjudication Order in respect of CB Management Services (P) Ltd. in the matter of Assam Company India Ltd. Page 4 of 20 93(2) of SEBI (Depositories and Participants) Regulations, 2018, and file a report containing, inter-alia, the reason for failure of such reconciliation.
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