Systematix Corporate Services Limited Imposing Penalty of INR 0.7 million on the Company as A SEBI Registered Category I Merchant Banker

Systematix Corporate Services Limited announced Adjudication Order under Section 15-I of SEBI Act, 1992 imposing penalty of INR 0.7 million on the Company as a SEBI registered Category I Merchant Banker. Details of the violation/contravention committed or alleged to be committed: Not exercised due care and diligence, as a Merchant Banker, in respect of one of the objects of issue of an IPO. Failure to maintain a separate SDD for merchant banking activities.

Failure to make the requisite 50 status updates in the SI portal in a timely manner.