{"id":4989,"date":"2022-05-16T17:40:00","date_gmt":"2022-05-16T12:10:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-sebi-disclosure\/"},"modified":"2022-05-16T17:38:12","modified_gmt":"2022-05-16T12:08:12","slug":"biz-sebi-disclosure-lapses","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-sebi-disclosure-lapses\/","title":{"rendered":"Disclosure lapses: Sebi bars Urja Global, four individuals from securities mkt for 2 years"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-107894161\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Sebi has barred Urja Global and four individuals from the securities market for various disclosure lapses and also directed the firm to obtain a practising company secretary&#8217;s certificate of authenticity for corporate announcements to be made in the next three years.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1205849516\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The directions are part of a 56-page order passed by the watchdog on Friday about the matter back in March 2021. Sebi, which carried out an examination for the period from April 2018 to August 2019, found alleged lapses, including making an artificial scheme for a corporate announcement in connection with Nippon Shinyaku, which was false and misleading.<\/p>\n<p>&#8220;Further, the company also allegedly failed to disclose the material fact that Nippon Shinyaku vide its email dated September 5, 2019, had explicitly indicated to Urja Global that no dealings of the kind described by Urja Global had been undertaken by Nippon Shinyaku or any of its Directors, specifically by Prof Yukio Sugiura,&#8221; the order said.<\/p>\n<p>Various other disclosure lapses were also observed.<\/p><div class=\"trade-content_5\" id=\"trade-1370792681\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>For the violations, Sebi has barred Urja Global and the four individuals from dealing in the securities market for two years. The individuals are Yogesh Kumar Goya, Sunil Kumar Mittal, Priya Bhalla and Avinash Kumar Agarwal. They have also been prohibited from being associated with any public company which intends to raise money from the securities market.<\/p>\n<p>The regulator has also warned two individuals &#8212; Aditya Venkatesh and Bharat Pranjivandas Merchant &#8212; for the disclosure lapses.<\/p>\n<p>Further, Sebi has directed Urja Global to obtain a certificate of authenticity for corporate announcements to be made in the next three years from a practising company secretary.<\/p>\n<p>In the certificate, the company will have to give the status of the corporate announcements of the last ten years from time to time and it will make sure that the firm will comply with the LODR (Listing Obligations Disclosures Requirements) regulations, the order said. PTI HG RAM BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-1944478450\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Sebi has barred Urja Global and four individuals from the securities market for various disclosure lapses and also directed the firm to obtain a practising company secretary&#8217;s certificate of authenticity for corporate announcements to be made in the next three years. The directions are part of a 56-page order passed by the watchdog on Friday [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":18020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31,1789],"tags":[],"class_list":["post-4989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Disclosure lapses: Sebi bars Urja Global, four individuals from securities mkt for 2 years - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-sebi-disclosure-lapses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Disclosure lapses: Sebi bars Urja Global, four individuals from securities mkt for 2 years\" \/>\n<meta property=\"og:description\" content=\"Sebi has barred Urja Global and four individuals from the securities market for various disclosure lapses and also directed the firm to obtain a practising company secretary&#8217;s certificate of authenticity for corporate announcements to be made in the next three years. 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