sebi:Order/SS/VS/2019-20/6979-6981
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Facts / Headnote
Penalty imposed on all Noticees jointly and severally for violations of LODR Regulations
Provisions invoked
- s. 28A
- s. 23I
- s. 23J
- s. 23E
- s. 23
- s. 23H
- s. 14
- s. 409
- s. 33(5)
- s. 279(1)
- s. 279
Regulations
- Reg. 4(2)(f)
- Reg. 30(1)
- Reg. 30
- Reg. 4
- Reg. 4(2)
- Reg. 101(2)
- Reg. 30(7)
- Reg. 3
- Reg. 30(2)
- Reg. 4(2)(f)(i)
- Reg. 30(10)
Parties
- Gitanjali Gems Limited (Noticee No. 1)
- Noticee No. 2 (Managing Director)
- Noticee No. 3 (Whole Time Director)
Holding
The Adjudicating Officer imposed a monetary penalty of ₹5,00,00,000 (five crores) jointly and severally on Gitanjali Gems Limited and its two directors for failing to make timely disclosures of material events including PNB's fraud allegations, credit limit withdrawal, litigation, KMP resignations, and LIC payment defaults to the stock exchanges in violation of Regulation 30 and Regulation 4(2)(f) of LODR Regulations.
Full text
_______________________________________________________________________________ Adjudication order in the matter of Gitanjali Gems Limited
_______________________________________________________________________________ Adjudication order in the matter of Gitanjali Gems Limited
_______________________________________________________________________________ Adjudication order in the matter of Gitanjali Gems Limited
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Source: SecMarx — sebi:Order/SS/VS/2019-20/6979-6981. 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.