The ROC Bangalore adjudication order imposes penalties under Section 450 of the Companies Act, 2013, for violating Section 29 read with Rule 9B(4)(a) by approving share transfers before dematerialisation of the securities. It directs the company and officers in default to rectify the violation, submit proof of dematerialisation, and pay the prescribed penalties within the specified timelines.
Penalty for Share Transfers Without Dematerialisation
