sebi:AK/AO-02/2010
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Facts / Headnote
Violations established; monetary penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 15C
Parties
- M/s. Enkay Texofood Industries Ltd.
Holding
The company failed to redress 302 investor grievances and failed to furnish the Status Report/Action Taken Report when called upon by SEBI, violating Sections 15C and 15A(a) of the SEBI Act. A total monetary penalty of Rs.30,00,000 (Rs.25,00,000 under Section 15C and Rs.5,00,000 under Section 15A(a)) was imposed on M/s. Enkay Texofood Industries Ltd.
Full text
Page 2 of 11 3. However, as no reply was received by SEBI, vide letter OIAE/KP/145168/2008 dated November 21, 2008, SEBI once again advised the company to resolve all the grievances and submit a status report within seven days from receipt of the said letter failing which such actions as deemed appropriate including initiation of adjudication proceedings might be initiated against the company. The said letter was also delivered to the company, as is evidenced by a copy of acknowledgement card with sign and seal available on record.
Page 3 of 11 referred to as “Rules”) to inquire into and adjudge under Sections 15C and 15A (a) of the SEBI Act, the abovementioned alleged violations by the company.
Page 4 of 11 8. The company did not reply to the said SCN. Hence, in the interest of natural justice and in order to conduct an inquiry in terms of Rule 4 of the Rules, the company was granted an opportunity of hearing on December 29,
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Source: SecMarx — sebi:AK/AO-02/2010. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.