sebi:Order/SM/KS/2025-26/32025
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Facts / Headnote
Violation established; penalty of Rs. 2,00,000 imposed under Section 15A(b) of the SEBI Act, 1992
Provisions invoked
- s. 11B
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 2(1)(c)
- Reg. 30
- Reg. 30(4)
- Reg. 30(2)
- Reg. 30(4)(i)(a)
Parties
- Ashapura Minechem Limited
Holding
The Noticee violated Regulation 30(2) read with sub-para 20 of Para A of Part A of Schedule III of LODR Regulations read with SEBI Circular dated July 13, 2023 and Regulation 30(4)(i)(a), and is liable to monetary penalty under Section 15A(b) of the SEBI Act, 1992, with penalty of Rs. 2,00,000 imposed.
Full text
Page 2 of 18 Adjudication order in the matter of Ashapura Minechem Limited B. APPOINTMENT OF ADJUDICATING OFFICER 2. Whereas, the Competent Authority was prima facie of the view that there were sufficient grounds to adjudicate upon the alleged violation by the Noticee, as stated above and therefore, in exercise of the powers conferred under Section 19 read with Section 15-I of the SEBI Act, 1992 and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (“Adjudication Rules” / “AO Rules”), the Competent Authority appointed the undersigned as the Adjudicating Officer (“AO”) vide order dated September 11, 2025 to inquire into and adjudicate under Section 15A(b) of the SEBI Act, 1992, for the aforesaid alleged violation by the Noticee. The said proceedings of appointment were communicated to the undersigned vide Communique dated September 11, 2025.
Page 3 of 18 Adjudication order in the matter of Ashapura Minechem Limited a. The Exchange has sought clarifications from the company and on the basis the response of the company, it is understood that –
Page 4 of 18 Adjudication order in the matter of Ashapura Minechem Limited 4. Based on the above observations, it is noted that in terms of Regulation 30 (2) of the LODR Regulations events specified in Para A of Part A of Schedule III are deemed to be material events and listed entity are required to make disclosure of such events. Additionally, Para. A of Part A of schedule III of the LODR Regulations, inter-alia, covers disclosure of fraud or defaults by a listed entity, its promoter, director, key managerial personnel, senior management or subsidiary or arrest of key managerial personnel, senior management, promoter or director of the listed entity and action(s) taken or orders passed by any regulatory, statutory, enforcement authority or judicial body against the listed entity or its directors, key managerial personnel, senior management, promoter or subsidiary, in relation to the listed. In this context, it is observed that the Company has not provided any disclosure concerning several events as mentioned in Para 3 above.
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Source: SecMarx — sebi:Order/SM/KS/2025-26/32025. 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.