Adjudication Order in respect of Patil Rail Infrastructure Pvt. Ltd


Quick Summary
The Securities and Exchange Board of India (SEBI) issued an Adjudication Order against Patil Rail Infrastructure Pvt. Ltd. for failing to submit its Half Yearly Communication (HYC) for the period ending March 31, 2019. This failure constituted a violation of Regulation 52(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company was issued a Show Cause Notice and subsequently provided a reply.

Court :
SEBI

Brief :
Securities and Exchange Board of India (“SEBI”) received a letter dated September 19, 2019 from Vistara ITCL (India) Ltd. (‘Vistara’), a SEBI registered Debenture Trustee in which Vistara had provided a list of companies from which it had not received till that date the Half Yearly Communication (‘HYC’) as per Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (‘LODR Regulations’) for the half year ended March 31, 2019.

Citation :
[ADJUDICATION ORDER NO. : Order/GR/RK/2020-21/9767]

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