LCC Infotech Limited has informed the Exchange about orders passed by AO SEBI in the matter of LCC Infotech Limited
LCCINFOTEC · price
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SEBI's Adjudicating Officer has imposed a penalty of Rs. 1,00,000 on LCC Infotech Limited for violating Regulation 31(1) read with Regulation 4(1)(e) of the LODR Regulations. The violation relates to promoter Mr. Siddhart Lakhotia's sale of 10,000 equity shares on January 1, 2018, which was not reflected in the company's shareholding pattern filings for eight consecutive quarters (March 2018 to December 2019). The company argued the omission was inadvertent and due to prior delisting/suspension orders, but SEBI noted the violation started before the delisting order and was repetitive (prior SEBI penalties in 2004 and 2024). The company has stated there will be no adverse impact on its financial or operational activities and business will continue normally.
The penalty amount of Rs. 1 lakh is immaterial for the company, and management has confirmed no operational or financial impact. However, the repetitive nature of the disclosure violations reflects weak compliance practices, which is a minor negative governance signal for shareholders.