sebi:PKK/AO/34/2011
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Facts / Headnote
Violation established; monetary penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 53A
Holding
The Noticee was held to have violated Regulation 53A of the DP Regulations and was held liable for monetary penalty under Section 15HB of the Act. A monetary penalty of Rs. 10,00,000 was imposed on the Noticee.
Full text
Page 2 of 7 as the ‘Act’) against the Noticee to inquire into and adjudge the alleged violations of the provisions of Regulations 53A of the DP Regulations.
Page 3 of 7 not submit any reply to the SCN. In the absence of any reply submitted by the Noticee, the undersigned considered the matter on the basis of the material available on record and decided to conduct an inquiry. Accordingly, the undersigned granted an opportunity of personal hearing to the Noticee by issuing a letter dated August 26, 2010 advising the Noticee to appear before him on September 08, 2010 for the personal hearing. The hearing notice was served on the Noticee by affixture at its last known address in accordance with Rule 7 (c) of the Adjudication Rules. The Noticee failed to attend the said personal hearing.
Page 4 of 7 DP Regulations: Manner of handling share registry work. 53A. All matters relating to transfer of securities, maintenance of records of holders of securities, handling of physical securities and establishing connectivity with the depositories shall be handled and maintained at a single point i.e. either in-house by the issuer or by a Share Transfer Agent registered with the Board.
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Source: SecMarx — sebi:PKK/AO/34/2011. 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.