| 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 |
|
|
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
|
|
| 3 |
|
|
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
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
