sebi:PB/AO-109/2010
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Facts / Headnote
Violation established; monetary penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 53
- Reg. 53A
Parties
- IPL
Holding
The Noticee violated regulation 53A of the DP Regulations by failing to handle share registry work at a single point after April 09, 2007, and a monetary penalty of Rs 1,00,000 under section 15HB of the SEBI Act was imposed.
Full text
Page 2 of 9 APPOINTMENT OF ADJUDICATING OFFICER 3. Mr. V.S. Sundaresan was appointed as Adjudicating Officer vide order dated May 08, 2008 under section 15 I of the SEBI Act read with rule 4 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under section 15 HB of the SEBI Act.
Page 3 of 9 Limited have since 09.04.2007 terminated services of providing electronic connectivity. It may further be noted that our shares have been suspended for trading by Bombay Stock Exchange and our shares are under compulsory demate trading at stock exchange. In view of above all share transfer relating work is being handled by Company at its registered office and there is no violation of Regulations of 53A of SEBI (Depositories and participants) Regulations, 1996.”
Page 4 of 9 c. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of the SEBI Act?
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Source: SecMarx — sebi:PB/AO-109/2010. 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.