SEBI Imposes Penalties Totaling Rs 35 Lakh On OP Jindal Group Company Hexa Tradex Ltd and Associated Entities For Regulatory Violations\r\n

The Securities and Exchange Board of India (SEBI) has imposed penalties of Rs 35 lakh on Hexa Tradex Ltd (HTL) and its affiliated entities for multiple regulatory breaches. The penalties were levied due to non-compliance with delisting regulations and disclosure obligations. SEBI found significant lapses in due diligence and adherence to regulatory frameworks by HTL and its directors. The board of directors failed to exercise proper oversight, and the company secretary provided limited and outdated information. \r

SEBI identified violations of delisting regulations, including failure to conduct due diligence, non-compliance with code of conduct, and inadequate disclosure of information to the stock exchange. Individual penalties ranging from Rs 2 lakh to Rs 5 lakh were imposed on responsible parties, including directors and promoters. The penalties were imposed for failure to ensure accuracy of disclosures, deprivation of material information to investors, and shortcomings in the conduct of the Committee of Independent Directors.