Sebi today filed a complaint with the Economic Offences Wing for registering an FIR against registrar and transfer agent Sharepro Services and 15 others -- less than two weeks after the regulator had barred them from the securities market.
The complaint has been filed with regard to alleged "forgery, cheating and misappropriation" by these entities in connection with transfer of shares and dividends of various companies.
Sources said the Securities and Exchange Board of India (Sebi) has filed a complaint with the EoW, Mumbai, against Sharepro and others. The watchdog has sought registering an FIR against them.
On March 22, the regulator had barred Sharepro and 15 entities from the securities market for indulging in illegal transfer of shares and dividend money of companies.
Sharepro Services (I) Pvt Ltd has been the registrar and share transfer agent for many top companies, including Britannia, Asian Paints, Tata Communications and Kansai Nerolac.
Besides imposing the ban on Sharepro and the 15 entities, Sebi had also asked the companies concerned to carry out a "thorough audit" of the records and systems of Sharepro to ascertain whether the dividends have been paid to actual holders and whether securities have been transferred as per the law.
The regulator had found that dividends and shares belonging to rightful investors were "transferred to the persons related to the management of Sharepro".
"Companies who are clients of Sharepro are directed to conduct a thorough audit of the records and systems of Sharepro with respect to dividends paid and transfer of securities to determine dividends have been paid to actual/ beneficial holders and whether securities have been transferred as per provision of the law," the order had said.
The audit would cover the dividends paid/transfers effected within the preceding at least 10 years. The companies have been asked to complete the audit in three months and submit a report to the regulator.
Besides, Sebi had said that the companies should take appropriate action within six months.
"Companies who are clients of Sharepro are also advised to carry out/ switchover their activities related to a registrar to an issue and share transfer agent, either in-house or through another registrar to an issue or share transfer agent registered with Sebi," the regulator had said.
