Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
IL&FS, the debenture trustee, failed to report to SEBI that there were more than 49 investors in the non-convertible debentures issued by Vaishnodevi Dairy Products Ltd., despite receiving communication from Karvy on April 1, 2014, listing 154 investors. This violated Regulation 15(1)(i) of the SEBI (Debenture Trustees) Regulations, 1993. The AT upheld the penalty of Rs. 5 lakhs imposed u/s 15HB of the SEBI Act, 1992, for the first charge but set aside the second charge of suppressing the BENPOS report.
IL&FS, the debenture trustee, failed to report to SEBI that there were more than 49 investors in the non-convertible debentures issued by Vaishnodevi Dairy Products Ltd., despite receiving communication from Karvy on April 1, 2014, listing 154 investors. This violated Regulation 15(1)(i) of the SEBI (Debenture Trustees) Regulations, 1993. The AT upheld the penalty of Rs. 5 lakhs imposed u/s 15HB of the SEBI Act, 1992, for the first charge but set aside the second charge of suppressing the BENPOS report.
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