sebi:Order/SM/YK/2022-23/23921-23927
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Facts / Headnote
Penalty imposed under Section 15HB of the SEBI Act
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15J
- s. 21
- s. 2(76)
Regulations
- Reg. 23
- Reg. 6
- Reg. 23(2)
- Reg. 23(4)
- Reg. 23(9)
- Reg. 4(2)(f)(i)
- Reg. 23(1)
- Reg. 17(5)
Parties
- Oxygenta Pharmaceutical Limited (erstwhile known as SS Organics Limited)
- Mr. Sai Sudhakar Vankineni
- Mr. D Sadasiva Reddy
- Mr. Gunreddy Krishna Reddy
- Mr. Muralidhar Rambathri
- Mr. Rajasekhar Reddy Puchakayala
- Mr. Raghavender Rao
Holding
Noticee No. 1 violated Section 21 of SCRA read with clause 2 of uniform Listing Agreement and Regulations 23(1), 23(2), 23(4) and 23(9) of LODR Regulations, and Noticees No. 2 to 7 violated Regulations 4(2)(f)(i)(2), 4(2)(f)(ii)(6) and 17(5) of LODR Regulations, attracting monetary penalty under Section 15HB of the SEBI Act.
Full text
Adjudication Order in the matter of Oxygenta Pharmaceutical Limited (erstwhile known as SS Organics Limited) Page 2 of 15 and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “LODR Regulations”) and uniform Listing Agreement prescribed under SEBI Circular No. CIR/CFD/CMD/6/2015 dated October 13, 2015 (hereinafter referred to as “uniform Listing Agreement”).
Adjudication Order in the matter of Oxygenta Pharmaceutical Limited (erstwhile known as SS Organics Limited) Page 3 of 15 ARR on the basis of preferential allotment in the category of non-promoter group (i.e. Public).
Adjudication Order in the matter of Oxygenta Pharmaceutical Limited (erstwhile known as SS Organics Limited) Page 4 of 15 Letter dated March 29, 2022 informed that transaction was discussed and approved by audit committee in general course of business and not as RPT. Oxygenta further submitted that it was of the view that transaction of availing loan from ARR may not come under disclosure requirement under LODR Regulations and hence, transaction was not disclosed by the Oxygenta.
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Source: SecMarx — sebi:Order/SM/YK/2022-23/23921-23927. 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.