sebi:WTM/SM/IVD/ID4/6335/2019-20
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Facts / Headnote
Noticees found in violation of SEBI Act, PFUTP Regulations, Listing Agreement, Takeover Regulations, PIT Regulations, SCRA and Companies Act; Noticees 2-5 restrained from securities market for two years and from managerial posts for two years; Noticee 6 prohibited from providing company secretarial services for one year; order to be forwarded to ICAI for action against Noticee 7.
Provisions invoked
- s. 15
- s. 19
- s. 11(1)
- s. 12A
- s. 12
- s. 21
- s. 24(1)
- s. 77A
- s. 14
- s. 68
- s. 14(1)
- s. 29
- s. 14(4)
- s. 31
- s. 33
- s. 77A(2)
- s. 24
- s. 301
- s. 143(3)
- s. 227
Regulations
- Reg. 4
- Reg. 3
- Reg. 13(4)
- Reg. 13
- Reg. 4(2)
- Reg. 200
- Reg. 3(a)
- Reg. 31
- Reg. 13(5)
- Reg. 31(1)
- Reg. 24(1)
- Reg. 31(3)
- Reg. 19(7)
Parties
- Deccan Chronicle Holdings Ltd. (Noticee 1)
- Sri T. Venkattram Reddy (Noticee 2)
- Sri T. Vinayak Ravi Reddy (Noticee 3)
- Sri Parasuraman Karthik Iyer (Noticee 4)
- Sri N. Krishnan (Noticee 5)
- Sri V. Shankar (Noticee 6)
- Noticee 7 (Statutory Auditor)
Holding
The Noticees were held liable for misleading financial statements (understating loans and interest), buyback without adequate reserves, non-disclosure of encumbered shares, delayed shareholding pattern filings, and fraudulent transfer of DCM's liabilities to DCHL, in violation of the SEBI Act, PFUTP Regulations, Listing Agreement, Takeover Regulations, PIT Regulations, SCRA and Companies Act.
Full text
__________________________________________________________________________________ Order in the matter of Deccan Chronicle Holdings Ltd.
__________________________________________________________________________________ Order in the matter of Deccan Chronicle Holdings Ltd.
__________________________________________________________________________________ Order in the matter of Deccan Chronicle Holdings Ltd.
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Source: SecMarx — sebi:WTM/SM/IVD/ID4/6335/2019-20. 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.