Adjudication Order in respect of Raheja Icon Entertainment Pvt. Ltd

Last updated: 28 October 2020

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Quick Summary

The Securities and Exchange Board of India (SEBI) has issued an adjudication order against Raheja Icon Entertainment Pvt. Ltd. The company failed to submit its financial results for the half-year ended March 31, 2019, to the exchange. Additionally, they did not disclose specific line items and failed to submit a required certificate from the Debenture Trustee, violating LODR Regulations.

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. The aforesaid list of companies included Raheja Icon Entertainment Pvt. Ltd. (‘Noticee/Company’). In view of the aforesaid information, SEBI conducted an examination and had observed prima facie prima violation of Regulation 52(1), 52(4) and 52(5) of LODR Regulations by the Noticee.

Citation :
[ADJUDICATION ORDER NO. : Order/GR/RK/2020-21/9415]

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