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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 21-NOV-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: DIRECTED TO TEST MATERIALITY OF FUTURE RELATED PARTY TRANSACTIONS AS PER REGULATION 23(1) OF SEBI (LODR) REGULATIONS, 2015 ON THE BASIS OF AGGREGATE VALUE OF TRANSACTIONS ENTERED INTO WITH ANY RELATED PARTY IN A FINANCIAL YEAR

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person LINDE INDIA LTD.

(PAN:AAACB2528H)  
  DID NOT OBTAIN PRIOR APPROVAL FROM SHAREHOLDERS ENTERED BY LINDE INDIA LTD. AND PRAXAIR INDIA PVT.LTD. FOR RELATED PARTY TRANSACTIONS VIOLATING REGULATIONS 23(1) AND 23(4) OF SEBI (LODR) REGULATIONS, 2015  DIRECTED TO TEST MATERIALITY OF FUTURE RELATED PARTY TRANSACTIONS AS PER REGULATION 23(1) OF SEBI (LODR) REGULATIONS, 2015 ON THE BASIS OF AGGREGATE VALUE OF TRANSACTIONS ENTERED INTO WITH ANY RELATED PARTY IN A FINANCIAL YEAR

DIRECTED TO OBTAIN APPROVALS AS MANDATED UNDER REGULATION 23(4) OF SEBI (LODR) REGULATIONS, 2015 IN THE EVENT AGGREGATE VALUE OF RELATED PARTY TRANSACTIONS EXCEEDED MATERIALITY THRESHOLD PROVIDED UNDER REGULATION 23(1) OF SEBI (LODR) REGULATIONS, 2015

DIRECTED NSE TO APPOINT A REGISTERED VALUER TO CARRY OUT A VALUATION OF THE BUSINESS FOREGONE AND RECEIVED, INCLUDING BY WAY OF GEOGRAPHIC ALLOCATION

DIRECTED TO REIMBURSE THE EXPENSES INCURRED BY NSE IN RESPECT OF VALUATION TO BE CARRIED OUT AS PER DIRECTIONS

DIRECTED LINDE INDIA LTD., ITS MANAGEMENT AND THEIR STATUTORY AUDITORS TO EXTEND FULL COOPERATION AND PROVIDE NECESSARY ASSISTANCE TO VALUER APPOINTED BY NSE IN COMPLIANCE WITH THE DIRECTIONS CONTAINED IN THIS ORDER

DIRECTED TO PLACE VALUATION REPORT RECEIVED FROM THE VALUER APPOINTED IN COMPLIANCE WITH THE DIRECTIONS CONTAINED IN THIS ORDER WITH THE COMPANY AND SEBI

DIRECTED TO PLACE VALUATION REPORT WITHIN TWO WEEKS OF RECEIVING THE REPORT BEFORE AUDIT COMMITTEE AND SEBI

DIRECTED TO MAKE A DISCLOSURE ON STOCK EXCHANGES PROVIDING A SUMMARY OF THE KEY OBSERVATIONS IN THE VALUATION REPORT ALONG WITH MANAGEMENT COMMENTS ON THE SAME

29-APR-2024 		SAT: SAT VIDE ITS ORDER DATED 22/05/2024 ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 29/04/2024. DIRECTED SEBI TO GRANT INSPECTION AND SUPPLY DOCUMENTS IMMEDIATELY. NO COSTS

SEBI VIDE ITS ORDER DATED 24/07/2024 DIRECTED TO A) TEST MATERIALITY OF FUTURE RPTS AS PER THE THRESHOLD PROVIDED UNDER REGULATION 23(1) OF SEBI (LODR) REGULATIONS, 2015 ON THE BASIS OF AGGREGATE VALUE OF TRANSACTIONS ENTERED INTO WITH ANY RELATED PARTY IN A FINANCIAL YEAR IRRESPECTIVE OF NUMBER OF TRANSACTIONS OR CONTRACTS INVOLVED B) AGGREGATE VALUE OF THE RPTS CALCULATED AS PROVIDED IN CLAUSE (A) EXCEEDS MATERIALITY THRESHOLD PROVIDED UNDER REGULATION 23(1) SHALL OBTAIN APPROVALS AS MANDATED UNDER REGULATION 23(4) OF SEBI (LODR) REGULATIONS, 2015 C) NSE TO APPOINT REGISTERED VALUER TO CARRY OUT VALUATION OF BUSINESS FOREGONE AND RECEIVED, INCLUDING BY WAY OF GEOGRAPHIC ALLOCATION IN TERMS OF ANNEXURE IV OF THE JV&SHA D) REIMBURSE EXPENSES INCURRED BY NSE IN RESPECT OF VALUATION TO BE CARRIED OUT AS PER DIRECTIONS AT PARAGRAPH 67 E) LINE INDIA LTD. AND ITS MANAGEMENT AND THEIR STATUTORY AUDITORS TO EXTEND FULL COOPERATION AND PROVIDE NECESSARY ASSISTANCE TO THE VALUER APPOINTED BY NSE IN COMPLIANCE WITH DIRECTIONS CONTAINED IN THIS ORDER F) NSE TO SHARE VALUATION REPORT RECEIVED FROM THE VALUER APPOINTED IN COMPLIANCE WITH DIRECTIONS CONTAINED IN THIS ORDER WITH COMPANY AND SEBI G) WITHIN TWO WEEKS OF RECEIVING VALUATION REPORT PLACE IT BEFORE AUDIT COMMITTEE AND BOARD H) MAKE DISCLOSURE TO STOCK EXCHANGES PROVIDING SUMMARY OF KEY OBSERVATIONS IN VALUATION REPORT ALONG WITH MANAGEMENT COMMENTS

SAT: SAT VIDE ITS ORDER DATED 21/08/2024 ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY. REJOINDER, IF ANY, WITHIN TWO WEEKS THEREAFTER. FURTHER, ALLOWED APPELLANT FOUR WEEKS TO FILE OBJECTION TO THE INTERVENTION APPLICATION

SEBI VIDE ITS ORDER DATED 23/09/2024 DIRECTED M.M.NISSIM & CO.LLP TO MAINTAIN STRICT CONFIDENTIALITY OF THE INFORMATION SHARED BY COMPANY, FOR THE VALUATION EXERCISE, AS DIRECTED BY SAT VIDE ITS ORDER DATED 13/09/2024
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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