sebi:WTM/AB/IVD/ID4/15158/2021-22
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Facts / Headnote
Noticee restrained from accessing the securities market and dealing in securities for 5 years from the date of the order, with existing holdings frozen; period of restraint already undergone under the January 02, 2019 order set off against this period.
Provisions invoked
- s. 19
- s. 12A
- s. 11C
- s. 24(1)
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Mrs. Uma Karthikeyan (PAN AKPPK3166J)
Holding
The Noticee, Mrs. Uma Karthikeyan, as Whole Time Director - Director Finance and audit committee member of Sanraa Media Ltd., was found to have violated Section 12A(a), (b), (c) of the SEBI Act read with Regulations 3(a)-(d) and 4(1) of the PFUTP Regulations by participating in the fraudulent GDR issue and issuing a misleading CEO/CFO certificate, and was restrained from the securities market for 5 years.
Full text
Order in the matter of Sanraa Media Ltd. Page 1 of 28 WTM/AB/IVD/ID4/15158/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: SHRI ANANTA BARUA, WHOLE TIME MEMBER
Order in the matter of Sanraa Media Ltd. Page 2 of 28 including the direction to bring the money back should not be issued against it under Sections 11(1), 11B and 11 (4) of the SEBI Act.
Order in the matter of Sanraa Media Ltd. Page 3 of 28 facilitating the subscription of GDR issue of SML was not disclosed to the stock exchange. h. It was found that suppression of such material information was primarily meant to mislead Indian retail investors that GDRs were genuinely subscribed, whereas in reality, the GDR issue was facilitated by SML itself.
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Source: SecMarx — sebi:WTM/AB/IVD/ID4/15158/2021-22. 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.