| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
AXIS BANK LTD.
|
|
|
TRUST DEED DID NOT CONTAIN CERTAIN CLAUSES VIOLATING REGULATION 14 OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT MONITOR PAYMENT OF INTEREST/REDEMPTION AMOUNTS ON OR BEFORE DUE DATES VIOLATING REGULATIONS 15 (1) (G) (III) & (IV) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT HAVE PRACTICE OF TAKING VALUATION REPORTS, CARRYING OUT SITE INSPECTIONS IN RESPECT OF TRUST PROPERTY AND PERIODIC CHECKING OF CASH FLOWS OF ISSUERS COMPANIES VIOLATING REGULATIONS 15(1) (H),15(5) AND CLAUSE 4 OF CODE OF CONDUCT OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT FOLLOW UP TO OBTAIN QUARTERLY REPORT STATEMENTS AND DID NOT MAKE ATTEMPT TO INSPECT TRUST PROPERTY VIOLATING REGULATIONS 15 (1) (H) AND 15(5) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT HAVE PRACTICE OF SHARING INFORMATION WITH CREDIT RATING AGENCIES WHO HAVE RATED THE ISSUE VIOLATING CLAUSE 13 OF CODE OF CONDUCT UNDER REGULATION 16 OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT MAINTAIN REGISTER OR DATABASE OF COMPLAINTS IN RESPECT OF PARTICULAR ISSUE VIOLATING CLAUSE 16 OF CODE OF CONDUCT AND REGULATION 15 (1) (F) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT SEND HALF YEARLY COMMUNICATIONS TO DEBENTURE HOLDERS REGARDING COMPLIANCE OF THE TERMS OF ISSUE OR DEFAULTS ,ACTION TAKEN ETC. VIOLATING REGULATION 15 (1) (N) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT OBTAIN WRITTEN AGREEMENTS VIOLATING REGULATIONS 13(A) & (B) (II) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ACTED AS TRUSTEE TO COMPANY TO WHOM IT HAS LENT MONIES VIOLATING REGULATIONS 13A (A) AND 13A (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT CALL MEETING OF ISSUER COMPANY DESPITE THE COMPANY BEING IN DEFAULT IN PAYING INTEREST AND REDEMPTION AMOUNT VIOLATING REGULATIONS 15 (1) (M) AND 15(2) (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
EXECUTED TRUST DEED AFTER CLOSURE OF ISSUE VIOLATING CLAUSE 10.2.3 OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
VIOLATED SEBI (ISSUE & LISTING OF DEBT SECURITIES) REGULATIONS, 2008
DID NOT DISSEMINATE ALL INFORMATION AND REPORTS ON DEBT SECURITIES INCLUDING COMPLIANCE REPORTS FILED BY ISSUERS AND DEBENTURE TRUSTEES VIOLATING REGULATION 23(4) OF SEBI (ISSUE AND LISTING OF DEBT SECURITIES) REGULATIONS, 2008
|
IMPOSED PENALTY RS.2,00,000
10-MAR-2011
|
SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS
SAT: SAT VIDE ITS ORDER DATED 06/03/2017 ALLOWED APPEAL TO BE WITHDRAWN WITH LIBERTY TO FILE FRESH APPEAL WITHIN A PERIOD OF TWO WEEKS FROM THE DATE OF THIS ORDER. NO COSTS
|
| 2 |
|
|
AXIS BANK LTD.
(PAN:AAACU2414K)
|
|
|
ALLEGED LENDING TO ISSUER COMPANIES TO WHICH IT ALSO EXTENDED DEBENTURE TRUSTEE SERVICES, DID NOT INCORPORATE MANDATORY CLAUSE IN TRUST DEED, LACK OF DUE DILIGENCE TO ENSURE COMPLIANCE OF LISTING AGREEMENT AND FALSELY STATED THAT CORRECTIVE STEPS HAVE BEEN TAKEN SINCE PREVIOUS INSPECTION VIOLATING SEBI (DEBENTURE TRUSTEE) REGULATIONS, 1993
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.2,43,00,000 VIDE CONSENT ORDER)
06-AUG-2019
|
|
| 3 |
|
|
AXIS TRUSTEE SERVICES LTD.
|
|
|
DID NOT INCORPORATE VARIOUS CLAUSES IN TRUST DEEDS VIOLATING REGULATION 14 READ WITH SCHEDULE IV OF (DEBENTURE TRUSTEE REGULATIONS) AND CLAUSE 18 OF CODE OF CONDUCT READ WITH REGULATION 16 OF (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF DEBT ISSUE OF VARIOUS COMPANIES
DID NOT OBTAIN VALUATION REPORT IN RESPECT OF CERTAIN ISSUES VIOLATING REGULATION 15(1)(H) OF (DEBENTURE TRUSTEE REGULATIONS) AND CLAUSE 18 OF CODE OF CONDUCT READ WITH REGULATION 16 OF (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF DEBT ISSUE OF VARIOUS COMPANIES
DID NOT OBTAIN QUARTERLY REPORTS FROM ISSUER COMPANIES VIOLATING REGULATION 15(1)(A) OF (DEBENTURE TRUSTEE REGULATIONS) AND CLAUSE 17 RELATING TO OBLIGATIONS OF BODY CORPORATE IN MODEL TRUST DEED (DEBENTURE TRUSTEE REGULATIONS) AND CLAUSE 18 OF CODE OF CONDUCT READ WITH REGULATION 16 OF (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF DEBT ISSUE OF VARIOUS COMPANIES
DID NOT EXERCISE DUE DILIGENCE TO ENSURE COMPLIANCE OF LISTING AGREEMENT VIOLATING REGULATION 15(1)(I) OF (DEBENTURE TRUSTEE REGULATIONS) AND CLAUSES 6 AND 27(B) OF SIMPLIFIED LISTING AGREEMENT AND CLAUSE 18 OF CODE OF CONDUCT READ WITH REGULATION 16 OF (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF DEBT ISSUE OF VARIOUS COMPANIES
DID NOT OBTAIN CERTIFICATE OF END UTILIZATION OF FUNDS VIOLATING REGULATION 15(1)(A) OF (DEBENTURE TRUSTEE REGULATIONS) AND CLAUSE 18 OF CODE OF CONDUCT READ WITH REGULATION 16 OF (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF DEBT ISSUE OF VARIOUS COMPANIES
DID NOT CREATE SECURITY IN RESPECT OF DEBT ISSUES OF ESSAR POWER LTD. AND AMTEK AUTO LTD. VIOLATING REGULATION 15(1)(D) AND (F) OF (DEBENTURE TRUSTEE REGULATIONS), 1993
DID NOT APPOINT NOMINEE DIRECTORS IN RESPECT OF DEBT ISSUES OF JAIPRAKASH ASSOCIATES LTD., ESSAR POWER LTD. AND AMTEK AUTO LTD. VIOLATING REGULATION 15(1)(M) OF (DEBENTURE TRUSTEE REGULATIONS), 1993
|
IMPOSED PENALTY RS.10,00,000
11-JUL-2018
|
|
| 4 |
|
|
AXIS TRUSTEE SERVICES LTD.
(PAN:AAHCA3172B)
|
|
|
ALLEGED FAILURE IN MONITORING OF PAYMENT OF INTEREST/PRINCIPAL BY RELIANCE COMMUNICATIONS LTD. TO DEBENTURE HOLDERS VIOLATING REGULATION 15(1)(G)(III) & (IV) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993 (NOW REGULATION 15(1)(Q)(III) & (IV) OF SEBI (DEBENTURE TRUSTEES) (AMENDMENT) REGULATIONS, 2017
ALLEGED IN HALF YEARALY REPORT ENDED MARCH, 2017 AND DID NOT MENTION RCL IN LIST OF COMPANIES WHICH HAVE DEFAULTED IN PAYMENT OF INTEREST/PRINCIPAL ON THEIR NCDS VIOLATING CLAUSE 19 OF CODE OF CONDUCT OF REGULATION 16 OF DEBENTURE TRUSTEE REGULATIONS, 1993
ALLEGED FAILURE IN SHARING INFORMATION OF NON-COOPERATION BY RELIANCE COMMUNICATIONS LTD. WITH CREDIT RATING AGENCIES VIOLATING OF SEBI CIRCULAR CIR/MIRSD/3/2013 DATED 15/03/2013
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.15,93,750 VIDE CONSENT ORDER)
02-APR-2019
|
|
| 5 |
|
|
CATALYST TRUSTEESHIP LTD.
(PAN:AACCG4147R)
|
|
|
DID NOT PROVIDE ANY DOCUMENTARY EVIDENCE VIZ. MINUTES OF MEETING BETWEEN SOME OF THE DEBENTURE HOLDERS AND ISSUER VIOLATING CLAUSE 3 OF SEBI CIRCULAR NO.SEBI/HO/MIRSD/CRADT/CIR/P/2020/230 DATED 12/11/2020 (SUPERSEDED BY MASTER CIRCULAR FOR DEBENTURE TRUSTEES DATED 31/03/2023) IN MATTER OF SPANDANA SPHOORTY FINANCIAL LTD.
DID NOT INFORM CONCERNED CRA(S) ABOUT BREACH OF COVENANTS OF THE TRUST DEED VIOLATING CLAUSE 3 OF SEBI CIRCULAR NO.CIR/MIRSD/3/2013 DATED 15/03/2013 (SUPERSEDED BY MASTER CIRCULAR FOR DEBENTURE TRUSTEES DATED 31/03/2023) IN MATTER OF SPANDANA SPHOORTY FINANCIAL LTD.
DID NOT INFORM CONCERNED CRA(S) ABOUT BREACH OF COVENANTS OF THE TRUST DEED VIOLATING CLAUSE 13 OF SCHEDULE III READ WITH REGULATION 16 OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF SPANDANA SPHOORTY FINANCIAL LTD.
|
IMPOSED PENALTY RS.1,00,000
26-AUG-2024
|
SAT: SAT VIDE ITS ORDER DATED 17/10/2024 GRANTED RESPONDENT FOUR WEEKS TO FILE REJOINDER. REJOINDER, IF ANY, TO BE FILED WITHIN TWO WEEKS THEREAFTER. STAYED IMPUGNED ORDER SUBJECT TO APPELLANT DEPOSITING 50% OF PENALTY AMOUNT WITH SEBI WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 09/12/2024 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER
|
| 6 |
|
|
CENTRAL BANK OF INDIA
|
|
|
ACTED IN OTHER ACTIVITIES OTHER THAN DEBENTURE TRUSTEE VIOLATING REGULATION 13 A (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
TRUST DEED DID NOT CONTAIN CERTAIN CLAUSES VIOLATING REGULATION 14 OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT OBTAIN QUARTERLY STATEMENTS CONTAINING THAT ASSET OF BODY CORPORATE AVAILABLE ARE SUFFICIENT TO DISCHARGE CLAIMS OF DEBENTURE HOLDERS VIOLATING REGULATION 15 (1) (A) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT CALL PERIODICAL REPORTS FROM BODY CORPORATE VIOLATING REGULATION 15 (1) (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT TAKE POSSESSION OF TRUST PROPERTY VIOLATING REGULATION 15 (1) (C) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
QUARTERLY REPORTS DID NOT CONTAIN NUMBER AND NATURE OF GRIEVANCES RECEIVED FROM DEBENTURE HOLDERS VIOLATING REGULATION 15 (1) (F) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT OBTAIN DETAILS OF PAYMENT OF INTEREST AND REDEMPTION VIOLATING REGULATION 15 (1) (G) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DUE DILIGENCE REPORTS SUCH AS ROC SEARCH/TITLE SEARCH WERE NOT AVAILABLE VIOLATING REGULATION 15 (1) (H) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT MONITOR FORMAT OF HALF YEAR REPORTS SENT BY ISSUERS TO DEBENTURE HOLDERS VIOLATING REGULATION 15 (1) (I) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT TAKE APPROPRIATE MEASURES FOR PROTECTING INTEREST OF DEBENTURE HOLDERS VIOLATING REGULATION 15 (1) (J) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT HAVE INFORMATION OF CALL OPTION EXERCISED BY ISSUER VIOLATING REGULATION 15 (1) (K) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT SEND HALF-YEARLY COMMUNICATIONS TO DEBENTURE HOLDERS VIOLATING REGULATION 15 (1) (N) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT MAKE EFFORTS TO CALL MEETING OF DEBENTURE HOLDERS VIOLATING REGULATION 15 (2) (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT DISSEMINATE ANY INFORMATION REGARDING COMPLIANCE AND PERIODIC REPORTS RECEIVED FROM ISSUERS TO DEBENTURE HOLDERS VIOLATING REGULATION 23 (4) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
|
IMPOSED PENALTY RS.25,00,000
25-FEB-2011
|
|
| 7 |
|
|
CENTRAL BANK OF INDIA
|
|
|
DID NOT ENTER INTO WRITTEN AGREEMENT WITH THE ISSUER COMPANIES IN RESPECT OF DEBENTURE ISSUES OF BRITANIA INDUSTRIES LTD. AND DEEPAK FERTILIZERS & PETROCHEMICALS CORP.LTD. VIOLATING REGULATION 13(A) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ACTED AS DEBENTURE TRUSTEE FOR IL&FS LTD., ITS DIRECTORS ALSO HELD DIRECTORSHIP IN IL&FS LTD. VIOLATING REGULATION 13A(A) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ACTED AS DEBENTURE TRUSTEE FOR IL&FS LTD. , PROVIDED LOANS TO IL&FS LTD. VIOLATING REGULATION 13A(B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT COMMUNICATE DEBENTURE HOLDERS ON HALF YEARLY BASIS VIOLATING REGULATION 15(1)(N) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
|
IMPOSED PENALTY RS.3,00,000
30-JUL-2018
|
SAT: SAT VIDE ITS ORDER DATED 09/09/2019 PARTLY ALLOWED THE APPEAL AND SET ASIDED AO ORDER IMPOSING MONETARY PENALTY AND CENSURED THE APPLICANT
|
| 8 |
|
|
IDBI TRUSTEESHIP SERVICES LTD.
|
|
|
ALLEGED FAILURE IN FULFILLING RESPONSIBILITIES AND OBLIGATIONS OF DEBENTURE TRUSTEES AS REQUIRED UNDER REGULATIONS 13,14,15(1)(C),15(1)(F),15(1)(G),15(1)(H), 15(1)(I),15(1)(N),15(2)(B),15(5) AND 18 (D) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ALLEGED FAILURE IN MAINTAINING DUE DILIGENCE, PROPER CARE, EXERCISING PROFESSIONAL JUDGEMENT AND DID NOT ADEQUATELY DEAL WITH ENQUIRIES FROM DEBENTURE HOLDERS ETC AS REQUIRED UNDER CLAUSES 4,16 AND 26 OF CODE OF CONDUCT OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ALLEGED FAILURE IN (1) OBTAINING CERTIFICATE FROM AUDITORS IN RESPECT OF WORKING CAPITAL AND (2) ISSUE PROCEEDS DID NOT KEPT IN AN ESCROW ACCOUNT UNTIL DOCUMENTS FOR CREATION OF SECURITY EXECUTED AS STATED IN OFFER DOCUMENT AS REQUIRED UNDER CLAUSES 10.2.6 (C) AND 10.6.4 OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.3,50,000 VIDE CONSENT ORDER)
31-MAY-2010
|
|
| 9 |
|
|
IDBI TRUSTEESHIP SERVICES LTD.
|
|
|
DID NOT FULFILL ITS OBLIGATIONS IN PROMPT, ETHICAL AND PROFESSIONAL MANNER VIOLATING CLAUSE 3 OF SCHEDULE III OF CODE OF CONDUCT AS SPECIFIED IN SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF FORTIS HEALTHCARE HOLDINGS PVT.LTD.
|
IMPOSED PENALTY RS.1,00,000
22-AUG-2022
|
|
| 10 |
|
|
IDBI TRUSTEESHIP SERVICES LTD.
(PAN:AAACI8912J)
|
|
|
DID NOT ADHERE TO PRESCRIBED FORMAT IN SUBMISSION OF ASSET COVER CERTIFICATES TO STOCK EXCHANGES VIOLATING CLAUSE 2.1 OF SEBI CIRCULAR OF NOVEMBER, 2020 AND CLAUSES 3 AND 4 OF CODE OF CONDUCT IN SCHEDULE III OF (DEBENTURE TRUSTEES) REGULATIONS, 1993
DELAY IN COMMUNICATING BREACH OF COVENANT TO DEBENTURE HOLDERS VIOLATING CLAUSE 3 OF SEBI CIRCULAR OF NOVEMBER, 2020
DELAY IN UPDATING CENTRALIZED DATABASE FOR CORPORATE BONDS/DEBENTURES VIOLATING CLAUSE C OF ANNEXURE-I OF SEBI CIRCULAR OF OCTOBER, 2013 AND CLAUSE 10 OF ANNEXURE-III OF SEBI CIRCULAR OF JUNE, 2021
|
IMPOSED PENALTY RS.3,00,000
23-DEC-2022
|
SAT: SAT VIDE ITS ORDER DATED 22/02/2023 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 23/12/2022. NO COSTS
|
| 11 |
|
|
INDIAN BANK
|
|
|
DID NOT OBTAIN QUARTERLY COMPLIANCE REPORTS VIOLATING REGULATION 15(1) (C) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
LACKED PROPER MONITORING SYSTEM FOR INTEREST AND PRINCIPAL REPAYMENT AND SHARING OF INFORMATION WITH CREDIT RATING AGENCIES VIOLATING REGULATION 15(1) (Q) (IV) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
NO COMPLIANCE OFFICER HAD NISM CERTIFICATION VIOLATING REGULATION 17A (4) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT DISSEMINATE HALF-YEARLY COMPLIANCE REPORTS SUBMITTED TO SEBI VIOLATING REGULATION 23(4) OF SEBI (ISSUE AND LISTING OF DEBT SECURITIES) REGULATIONS, 2008
|
IMPOSED PENALTY RS.8,00,000
25-APR-2019
|
|
| 12 |
|
|
INDIAN OVERSEAS BANK
|
|
|
DID NOT OBTAIN CERTIFICATE FROM THE ISSUER’S AUDITORS IN RESPECT OF END UTILIZATION OF FUNDS
DID NOT OBTAIN DETAILS OF PAYMENTS MADE TO THE DEBENTURE HOLDERS TOWARDS REDEMPTION/PERIODICAL INTEREST PAYMENTS
DID NOT MAINTAIN COMPREHENSIVE DATABASE FOR ISSUES HANDLED BY NOTICEE
DID NOT AVAILABLE DATE OF DISPATCH/CREDIT OF DEBENTURES TO HOLDERS
|
IMPOSED PENALTY RS.2,00,000
23-JAN-2018
|
|
| 13 |
|
|
SBICAP TRUSTEE CO.LTD.
(PAN:AAJCS8105J)
|
|
|
ALLEGED IMPROPER DISCLOSURE ON WEBSITE WITH RESPECT TO MAINTENANCE OF RECOVERY EXPENSE FUND VIOLATING REGULATION 16 READ WITH CLAUSES 4 AND 15 OF SCHEDULE III OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ALLEGED IMPROPER DISCLOSURE ON WEBSITE WITH RESPECT TO CALENDAR OF INTEREST/REDEMPTIONS, DUE AND PAID VIOLATING REGULATION 16 READ WITH CLAUSE 15 OF SCHEDULE III OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ALLEGED IMPROPER DISCLOSURE OF ASSET COVER CERTIFICATE VIOLATING REGULATIONS 15(1)(B), 15(1)(S) AND 16 READ WITH CLAUSE 15 OF SCHEDULE III OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ALLEGED IMPROPER DISCLOSURE OF ASSET COVER CERTIFICATE VIOLATING REGULATION 16 READ WITH CLAUSE 15 OF SCHEDULE III OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
ALLEGED IMPROPER DISCLOSURE ON WEBSITE WITH RESPECT TO MAINTENANCE OF RECOVERY EXPENSE FUND VIOLATING SEBI CIRCULAR DATED 03/11/2020
ALLEGED IMPROPER DISCLOSURE ON WEBSITE WITH RESPECT TO CALENDAR OF INTEREST/REDEMPTIONS, DUE AND PAID VIOLATING SEBI CIRCULAR DATED 27/05/2019
ALLEGED IMPROPER DISCLOSURE OF ASSET COVER CERTIFICATE VIOLATING SEBI CIRCULAR DATED 12/11/2020
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.25,08,000 VIDE CONSENT ORDER)
12-JUN-2024
|
|
| 14 |
|
|
UNITED BANK OF INDIA
(PAN:AAACU5624P)
|
|
|
TRUST DEED DID NOT CONTAIN CERTAIN CLAUSES VIOLATING REGULATION 14 OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
LENT LOANS TO ISSUER COMPANY VIOLATING REGULATION 13 A (B) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT DISSEMINATE ALL INFORMATION AND REPORTS ON DEBT SECURITIES BY PLACING THEM ON THEIR WEBSITES VIOLATING REGULATION 23 (4) OF ILDS REGULATIONS
DID NOT SUBMIT CORRECT INFORMATION AS REQUIRED IN PRE INSPECTION QUESTIONNAIRE VIOLATING CLAUSE 4 AND 19 OF CODE OF CONDUCT READ WITH REGULATIONS 16 AND 21(1) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DELAY IN ENTERING WRITTEN AGREEMENT WITH ISSUER COMPANY VIOLATING REGULATION 13(A) OF SEBI (DEBENTURE TRUSTEES) REGULATIONS, 1993
DID NOT INCORPORATE CERTAIN CLAUSES IN TRUST DEED VIOLATING REGULATION 15 (2) OF SEBI (ILDS) REGULATIONS, 2008
EXECUTED TRUST DEED AFTER CLOSURE OF ISSUE VIOLATING CLAUSE 10.2.3 OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
|
IMPOSED PENALTY RS.2,00,000
10-SEP-2015
|
|
| 15 |
|
|
VIJAYA BANK
|
|
|
DID NOT SUBMIT CORRECT INFORMATION TO SEBI IN REPLY TO THE PRE INSPECTION QUESTIONNAIRE IN RESPECT OF LOANS GRANTED TO ISSUER COMPANIES
DID NOT MONITOR DEBENTURE REDEMPTION RESERVE
DID NOT ADHERE TO LISTING AGEREEMENT IN RESPECT OF KARNATAKA STATE FINANCIAL CORPORATION AND CANARA BANK SUB REASON – NEW-TRUST DEEDS EXECUTED/BEING EXECUTED FOR ITS POST INSPECTION ACTIVITY
DID NOT EXERCISE DUE DILIGENCE TO ENSURE COMPLIANCE WITH PROVISIONS OF SECTION 67(30 OF THE COMPANIES ACT IN RESPECT OF ALLOTMENT TO MORE THAN 49 PERSONS
|
IMPOSED PENALTY RS.10,00,000
31-DEC-2015
|
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| 16 |
|
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VISTRA ITCL (INDIA) LTD.
|
|
|
DID NOT EXERCISE DUE DILIGENCE TO ENSURE COMPLIANCE OF LISTING AGREEMENT VIOLATING REGULATION 15(1)(I) OF (DEBENTURE TRUSTEE REGULATIONS) AND CLAUSES 1 TO 4 OF CODE OF CONDUCT SCHEDULE III READ WITH REGULATION 16 OF (DEBENTURE TRUSTEES) REGULATIONS, 1993 IN MATTER OF LRN FINANCE LTD.
|
IMPOSED PENALTY RS.5,00,000
26-OCT-2018
|
SAT: APPEAL DISMISSED
|
| 17 |
|
|
VISTRA ITCL (INDIA) LTD.
(PAN:AAACI6832K)
|
|
|
DID NOT CARRY OUT DUE DILIGENCE WITH REGARD TO MATERIAL CHANGE IN NCDS AND DEFAULT RECOGNITION IN CASE OF PARANJAPE SCHEME (CONSTRUCTION) LTD.
DID NOT DISCLOSE EVENT OF DEFAULT AND STATUS OF PAYMENT OF INTEREST/PRINCIPAL FOR LISTED NCDS OF PARANJAPE SCHEME (CONSTRUCTION) LTD. ON ITS WEBSITE
DID NOT SHARE INFORMATION WITH CREDIT RATING AGENCY REGARDING NON-PAYMENT OF REDEMPTION AMOUNT FOR NCDS ISSUED BY PARANJAPE SCHEME (CONSTRUCTION) LTD.
DELAY IN UPDATING DEFAULT HISTORY ON CENTRALIZED DATABASE FOR CORPORATE BONDS/DEBENTURES
DID NOT UPDATE DEFAULT HISTORY ON CENTRALIZED DATABASE FOR CORPORATE BONDS/DEBENTURES
|
IMPOSED PENALTY RS.12,00,000
29-AUG-2024
|
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| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
