sebi:Order/SV/VC/2024-25/30271

SEBI · SEBI · 2014-04-17 · Shashi Kumar Valsakumar, Adjudicating Officer

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Facts / Headnote

Violation established; monetary penalty imposed

Provisions invoked

• s. 11B
• s. 11
• s. 15
• s. 19
• s. 15H
• s. 15J
• s. 15F
• s. 28A
• s. 23E

Regulations

• Reg. 103(2)

Parties

• Williamson Magor and Company Limited

Holding

The Adjudicating Officer held Williamson Magor and Company Limited violated Clause 49(VII)(D), Clause 32, Clause 49(I)(C)(1)(d) and Clause 50 of the erstwhile Equity Listing Agreement for the FY 2014-15 sale of 1,13,360 Woodlands Multispecialty Hospital Ltd. shares to associate Babcock Borsig Ltd. without prior Audit Committee approval and without Related Party Disclosure, and imposed a penalty of Rs.2,00,000 under Section 15HB of the SEBI Act, 1992.

Full text

Adjudication Order in the matter of Williamson Magor and Company Limited Page 2 of 16 the erstwhile Equity Listing Agreement with respect to approval and disclosure of Related Party Transactions (hereinafter referred to as ‘RPTs’) and was limited to the prevailing regulatory clauses when the transaction was undertaken. The listing agreement between BSE and the Company was signed on March 26, 1993. The examination was limited to the issues raised in the Complaint.

Adjudication Order in the matter of Williamson Magor and Company Limited Page 3 of 16 SHOW CAUSE NOTICE, REPLY AND HEARING

Adjudication Order in the matter of Williamson Magor and Company Limited Page 4 of 16 (b) Clause 32, Clause 49 (I) (C) (1) (d) and Clause 50 of the erstwhile Equity Listing Agreement.

Source: SecMarx — sebi:Order/SV/VC/2024-25/30271. 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.