sebi:PB/AO-127/2010
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Facts / Headnote
Violation of regulation 54(5) of DP Regulations established; monetary penalty of Rs. 10,00,000 imposed on the Noticee.
Provisions invoked
- s. 19
- s. 12
- s. 19H
- s. 19D
Regulations
- Reg. 199
- Reg. 54(5)
- Reg. 54
Parties
- Noticee (issuer company)
Holding
The Noticee violated regulation 54(5) of the DP Regulations by failing to complete dematerialization of securities within the stipulated time period, and is liable for a monetary penalty of Rs. 10,00,000 under section 19D of the Depositories Act.
Full text
Page 2 of 14 The aforesaid delay is alleged to be in violation of regulation 54 (5) of SEBI (Depositories and Participants) Regulations 1996, (hereinafter referred as "DP Regulations") and liable for penalty under section 19D of the Depositories Act, 1996 (hereinafter referred to as the “Depositories Act”).
Page 3 of 14 returned undelivered. NRO SEBI in their delivery report mentioned that the Noticee was not available at the address.
Page 4 of 14 received. The Noticee replied to the said SCN vide its letter dated June 11, 2010, which inter alia stated as under:
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Source: SecMarx — sebi:PB/AO-127/2010. 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.