sebi:SO/AN/EFD2/2023-24/7142
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Facts / Headnote
Settlement of proceedings; SEBI shall not initiate enforcement action against the Applicant for the stated violations
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23
Holding
SEBI settled the proceedings that may be initiated against the Applicant for non-compliance with board composition and corporate governance reporting requirements, on payment of ₹24,32,000, and agreed not to initiate enforcement action for the said violations.
Full text
2 Chairperson, the composition of the Board was reorganised w.e.f November 9, 2022, so as to satisfy the requirements of the SEBI LODR Regulations.
3 aforesaid settlement amount on August 25, 2023 and SEBI has confirmed credit of the same. 6. On the basis of the facts stated above, in exercise of the powers conferred under Section 15JB read with Section 19 of the Securities and Exchange Board of India Act, 1992 and in terms of Regulations 23 of the Settlement Regulations, it is hereby ordered that any proceedings that may be initiated for the violations as mentioned in paragraph 1 above are settled in respect of the Applicant on the following terms:
4 Sd/- Sd/- ANANTH NARAYAN G. AMARJEET SINGH WHOLE TIME MEMBER WHOLE TIME MEMBER
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Source: SecMarx — sebi:SO/AN/EFD2/2023-24/7142. 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.