sebi:Order/VV/AK/2022-23/18731-18732
Facts / Headnote
Show Cause Notice dated February 16, 2021 disposed of without imposition of penalty
Provisions invoked
- s. 21
- s. 23E
- s. 23
- s. 23J
- s. 23A
- s. 23I
- s. 124
- s. 180(1)
Regulations relied on
- SEBI (LODR) Regulations, 2015 — 30(1)
- SEBI (LODR) Regulations, 2015 — 30(4)(i)(b)
- SEBI (LODR) Regulations, 2015 — 4(1)(e)
- SEBI (LODR) Regulations, 2015 — 4(1)(h)
- SEBI (LODR) Regulations, 2015 — 4(1)(i)
- SEBI (LODR) Regulations, 2015 — 4(1)(j)
- SEBI (LODR) Regulations, 2015 — 4(2)(b)
- SEBI (LODR) Regulations, 2015 — 4(2)(e)
Parties
- Usha Martin Limited
- Tata Steel Long Products Limited
Holding
Noticees Usha Martin Limited and Tata Steel Long Products Limited have not violated Regulations 30(1) and 30(4)(i)(b) and Regulations 4(1)(e), 4(1)(h), 4(1)(i), 4(1)(j) and 4(2)(b) & 4(2)(e) of LODR, and the SCN is disposed of without penalty.
Full text
Adjudication Order in the matter of Page 2 of 15 Usha Martin Limited and Tata Steel Long Products Limited executed between DMO, Chaibasa, Jharkhand, TSLPL and UML on May 25, 2019 (d) Both UML and TSLPL have also given an undertaking to accept the terms and conditions of the aforementioned GoJ letter dated March 9, 2019. Accordingly, SEBI sought clarification from Noticees. On the basis of responses received SEBI decided to initiate instant adjudication proceeding.
Adjudication Order in the matter of Page 3 of 15 Usha Martin Limited and Tata Steel Long Products Limited 5. Written Submission, Inspection, Hearing Opportunity Table - 1 Noticee Name Inspection Written Submission Hearing Concluded Noticee 1 ------------------ July 01, 2022 & November 16, 2021 June 28, 2022 Noticee 2 May 23,
Adjudication Order in the matter of Page 4 of 15 Usha Martin Limited and Tata Steel Long Products Limited Aforementioned details should have been disclosed to the investors for enabling them to make judicious investment decisions.
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