Adjudication Order in respect of Nirlon Ltd in the matter of Sharepro Services India Pvt Ltd

Last updated: 19 October 2020
Quick Summary
This adjudication order concerns Nirlon Limited's failure to comply with directions issued by the Securities and Exchange Board of India (SEBI) in March 2016. These directions required companies using Sharepro Services (I) Private Limited as their registrar and transfer agent to conduct thorough audits of Sharepro's records concerning dividend payments and security transfers. Nirlon Limited did not fulfil these audit and reporting obligations, leading SEBI to initiate adjudication proceedings.

Court :
SEBI

Brief :
The Whole Time Member of Securities and Exchange Board of India vide ex-parte ad-interim order dated March 22, 2016 gave the following directions to the companies, who were clients of the Registrar and Transfer Agent - M/s Sharepro Services (I) Private Limited (hereinafter referred to as ‘Sharepro’):

Citation :
[ADJUDICATION ORDER NO. Order/KS/AE/2020-21/9401]

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