sebi:QJA/KS/CFID/CFID-SEC4/30037/2023-24
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Facts / Headnote
Monetary penalties imposed on Noticees 1, 2, 3 and 4 for violations of SEBI Act and regulations
Provisions invoked
- s. 15A
- s. 19
- s. 11(1)
- s. 11B
- s. 11
- s. 15H
- s. 15J
- s. 11C
- s. 12
- s. 11C(3)
- s. 15F
- s. 11C(2)
- s. 27
- s. 27(1)
- s. 166
- s. 14
- s. 189
- s. 291
- s. 179
- s. 186
Regulations
- Reg. 2(c)
- Reg. 6
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 17
- Reg. 4(2)(f)
- Reg. 34
- Reg. 31
- Reg. 18
- Reg. 19
- Reg. 20
- Reg. 30
- Reg. 33
- Reg. 4(2)(e)
- Reg. 31(2)
- Reg. 4(2)(r)
- Reg. 4(2)(k)
- Reg. 4(1)(a)
- Reg. 6(1)
Parties
- Mideast Integrated Steels Limited (MISL)
- Noticee 2
- Noticee 3
- Noticee 4
Holding
MISL and its directors (Noticees 2, 3, 4) were held liable for fraudulent and unfair trade practices through manipulation of financial statements, non-disclosure of material events, and corporate governance failures, resulting in monetary penalties of Rs. 2 crore under Section 15HA and Rs. 1 crore under Section 15HB of the SEBI Act on MISL.
Full text
__________________________________________________________________________________ Order in the matter of M/s Mideast Integrated Steels Limited Page 2 of 89
__________________________________________________________________________________ Order in the matter of M/s Mideast Integrated Steels Limited Page 3 of 89
__________________________________________________________________________________ Order in the matter of M/s Mideast Integrated Steels Limited Page 4 of 89
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Source: SecMarx — sebi:QJA/KS/CFID/CFID-SEC4/30037/2023-24. 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.