SEBI Slashed a fine of Rs 1,50,000 /= against Frontier Capital Limited , a Listed Company for not appointing Company Secretary cum Compliance Officer

SEBI Slashed a fine of Rs 1,50,000 /= against

 Frontier Capital Limited , a Listed Company

 for not appointing Company Secretary cum 

Compliance Officer.

Non-Compliances under LODR Regulation

SEBI vide its order dated May 29, 2018 have imposed penalty of Rs. 1,50,000 on one of the listed company for violation of Regulation 6(1) of SEBI LODR Regulation and Regulation 95(1) of SEBI ICDR Regulation.

Failure to Appoint Company Secretary cum

 Compliance Officer

Company had delayed in initiating the process of Bonus issue within 2 months from members approval and the reason for such delay was due to non-availability of Company Secretary cum Compliance Officer for 6 months (during which company had received approval for bonus issues).

Penalty for non-compliance of violation of regulation 6(1) was initiated only in addition to  non-compliance of bonus issue provisions.

For more details , please visit the following link:

https://www.sebi.gov.in/web/?file=https://www.sebi.gov.in/sebi_data/attachdocs/may-2018/1527592524062.pdf#page=5&zoom=auto,-27,143

Couesy : CS Ashish Baid