sebi:Order/SV/VC/2023-24/30164
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Facts / Headnote
Penalty imposed on the Noticee for violations of LODR Regulations and SEBI Circulars
Provisions invoked
- s. 11B
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 12A
- s. 15F
- s. 28A
- s. 23A
- s. 23
- s. 31
- s. 188
- s. 102(1)
Regulations
- Reg. 2(1)
- Reg. 15
- Reg. 23
- Reg. 30
- Reg. 4
- Reg. 23(4)
- Reg. 30(2)
- Reg. 4(1)(c)
- Reg. 23(9)
- Reg. 23(1)
- Reg. 4(1)(d)
- Reg. 30(12)
Parties
- Family Care Hospitals Limited
Holding
The Noticee, Family Care Hospitals Limited, was held to have violated Regulations 4(1)(c), 4(1)(d), 4(1)(e) read with Regulations 23(4), 23(9), 30(12) and 44(3) of the LODR Regulations and applicable SEBI Circulars relating to related party transactions, disclosures, and voting results. A monetary penalty of ₹15,00,000 was imposed under Section 15A(b) and Section 15HB of the SEBI Act, 1992 and Section 23A(a) of the SCRA, 1956.
Full text
Adjudication Order in the matter of Family Care Hospitals Limited Page 2 of 42 Exchange (BSE). The Exchange was also advised by SEBI to collect the certified true copies of all the approvals for Related Party Transactions (RPT) from the audit committee, board of directors and shareholders for the FYs 2021-22 and 2022-23, from the Company. The same was submitted by the Company. BSE submitted its response on the said complaints vide its Email dated February 1, 2023 along with the comments / explanations of the Company on the complaints.
Adjudication Order in the matter of Family Care Hospitals Limited Page 3 of 42 5. SEBI appointed the undersigned as the Adjudicating Officer, vide order dated August 25, 2023, under Section 15-I of the SEBI Act, 1992 read with Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘SEBI Adjudication Rules’) read with Section 19 of the SEBI Act, 1992, and, under Section 23-I of the Securities Contracts (Regulation) Act, 1956 (hereinafter referred to as ‘SCRA, 1956’) read with Rule 3 of the Securities Contract (Regulation) (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2005 (hereinafter referred to as ‘SCR Adjudication Rules’), to inquire into and adjudge under the provisions of the Section 15A(b) and Section 15HB of the SEBI Act, 1992 and Section 23A(a) of the SCRA, 1956, for the violations alleged to have been committed by the Noticee.
Adjudication Order in the matter of Family Care Hospitals Limited Page 4 of 42 letter dated January 10, 2024. AR further stated to furnish the additional
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Source: SecMarx — sebi:Order/SV/VC/2023-24/30164. 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.