sebi:Order/VV/NK/2021-22/15777
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Facts / Headnote
Show Cause Notice upheld; penalty imposed for violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 12
- s. 61
- s. 15H
- s. 55A
- s. 15J
- s. 9(1)
- s. 25(1)
- s. 28
- s. 227
- s. 224
- s. 132(2)
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 12
- Reg. 4(2)
- Reg. 2
- Reg. 5
- Reg. 3(b)
- Reg. 4(2)(a)
- Reg. 2(1)
- Reg. 4(2)(n)
- Reg. 57(1)
- Reg. 2(b)
- Reg. 60(7)(a)
- Reg. 24
- Reg. 4(2)(b)
- Reg. 4(2)(e)
- Reg. 4(2)(g)
Parties
- M/s K Gopalakrishnan & Co.
Holding
The Noticee (M/s K Gopalakrishnan & Co.), statutory auditor of Acropetal Technologies Ltd., was held liable for violating Regulations 3(b), (c), (d), 4(1), 4(2)(f), (k) and (r) of the PFUTP Regulations for negligently certifying the utilization of a Rs. 20 crore bridge loan in the prospectus without independent verification.
Full text
Adjudication Order with respect to M/s K Gopalakrishnan & Co. in the matter of Acropetal Technologies Ltd. P a g e 2 | 42
Adjudication Order with respect to M/s K Gopalakrishnan & Co. in the matter of Acropetal Technologies Ltd. P a g e 3 | 42
Adjudication Order with respect to M/s K Gopalakrishnan & Co. in the matter of Acropetal Technologies Ltd. P a g e 4 | 42
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Source: SecMarx — sebi:Order/VV/NK/2021-22/15777. 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.