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Brief
On "30/10/2024", the "Securities and Exchange Board of India" issued an update regarding "Adjudication Order in respect of Sunil Arjan Lulla in the matter of Eros International Media Limited". The Adjudicating Officer imposed a penalty of Rs.50,00,000/- on the Noticee for non-compliance with SEBI directions.
The penalty is commensurate with the lapse/omission on the part of the Noticee, as per section 15J of the SEBI Act. The adjudication proceedings were initiated due to the Noticee's failure to comply with SEBI directions and not resigning from his directorship despite being restrained from holding any directorial position.
The Adjudicating Officer has imposed a penalty of Rs.50,00,000/- on the Noticee for non-compliance with SEBI directions, citing section 15J of the SEBI Act as the basis for the determination.
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