Sebi disposes of show cause notice issued to HDFC

Markets regulator Sebi on Wednesday disposed of a show cause notice that was issued to Housing Development & Finance Corporation (HDFC) with respect to alleged violations of share transfer agent norms.

The watchdog had conducted an inspection of HDFC, which was registered with the regulator as Category II Registrar to an Issue and Share Transfer Agent, on September 30 to October 9, 2019, for the period April 1, 2018 to July 30, 2019.

It was alleged that HDFC had violated certain provisions of listing obligations and disclosure requirements regulations and/or norms pertaining to Registrars to an Issue and Share Transfer Agents.

Passing an order on Wednesday, Sebi's Adjudicating Officer Geetha G said that no monetary penalty is warranted in respect of the allegations levelled in the instant matter and disposed of the show cause notice that was issued in December 2021.

According to the order, out of the allegations made in the show cause notice, the noticee (HDFC) was in violation of