Order in the matter of Adroit Corporate Services Ltd, Registrar to an Issue and Share Transfer Agent

Last updated: 29 October 2020

Save Share

Quick Summary

The Securities and Exchange Board of India (SEBI) has issued an order concerning Adroit Corporate Services Pvt. Ltd., a registered Registrar to an Issue and Share Transfer Agent. Following an inspection and audit covering periods up to March 2016, SEBI noted alleged violations by Adroit. These violations reportedly relate to the maintenance of specimen signatures when processing requests for share dematerialisation, transfers, and the issuance of duplicate share certificates.

Court :
SEBI

Brief :
Securities and Exchange Board of India (“SEBI”) granted a certificate of registration as a Registrar to an Issue and Share Transfer Agent (Category 1 RTA) to Adroit Corporate Services Pvt. Ltd. (Adroit/Noticee) in accordance with the provisions of SEBI(Registrar to an Issue and Share Transfer Agent) Regulations, 1993 (RTA Regulations).

Citation :
WTM/GM/EFD-2/42/2020-21

WTM/GM/EFD-2/42/2020-21
SECURITIES AND EXCHANGE BOARD OF INDIA
ORDER
Under Section 12(3) of SEBI Act, 1992 read with Regulation 28(2) of SEBI (Intermediaries) Regulations, 2008.

NOTICEE : SEBI REGISTRATION NO
Adroit Corporate Services Pvt. Ltd. : INR000002227

Background
1. Securities and Exchange Board of India (“SEBI”) granted a certificate of registration as a Registrar to an Issue and Share Transfer Agent (Category 1 RTA) to Adroit Corporate Services Pvt. Ltd. (Adroit/Noticee) in accordance with the provisions of SEBI(Registrar to an Issue and Share Transfer Agent) Regulations, 1993 (RTA Regulations).

2. SEBI conducted an inspection of the Noticee between March 16- 18, 2016 to ascertain the level of compliance with the regulations and directions issued by SEBI for the period April 01, 2013 to December 31, 2015. SEBI also appointed an auditor- Shah, Gupta and Company, to conduct an audit of the books of accounts and other records of the Noticee for the period of April 01, 2013 to March 31, 2016, to ascertain the compliance with the regulatory measures put in place by SEBI for RTAs.

3. Pursuant to the inspection and audit, it was noted that Noticee had allegedly violated SEBI regulations and circulars pertaining to maintenance of specimen signatures in relation to processing requests for dematerialization, transfer and issue of duplicate share certificate.

To know more in details find the attachment file

FAQ :

Adroit Corporate Services Pvt. Ltd. is registered with SEBI as a Registrar to an Issue and Share Transfer Agent (Category 1 RTA).

SEBI conducted an inspection and appointed an auditor to ascertain Adroit Corporate Services Ltd's compliance with SEBI regulations and directions for RTAs.

The inspection covered the period from April 1, 2013, to December 31, 2015, while the audit covered records from April 1, 2013, to March 31, 2016.

Adroit Corporate Services Ltd allegedly violated SEBI regulations and circulars concerning the maintenance of specimen signatures when processing requests for dematerialisation, transfer, and duplicate share certificates.