sebi:AKD/AO-77/2018-19
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Facts / Headnote
Adjudication proceedings disposed of; allegations not established
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Bharat Line Ltd.
Holding
The allegations of failure to obtain SCORES authentication against Bharat Line Ltd. were not established because the Noticee company was not listed on any SEBI recognized Stock Exchange. The adjudication proceedings initiated vide Show Cause Notice dated July 05, 2017 were disposed of.
Full text
Order in respect of Bharat Line Ltd. in the matter of Non-obtaining of SCORES authentication Page 2 of 7 3. SEBI vide Circular No. CIR/OIAE/l/2014 dated December 18, 2014 (hereinafter referred to as ‘SEBI Consolidated Circular’) consolidating the aforesaid circulars i.e. CIR/OIAE/2/2011 dated June 3, 2011, CIR/OIAE/1/2012 dated August 13, 2012, CIR/OIAE/1/2013 dated April 17, 2013 had inter-alia, directed all the companies whose securities were listed on stock exchanges to obtain SCORES authentication and redress the pending investor grievances within the stipulated time period. The said SEBI Consolidated Circular further, inter-alia, stated that failure by any listed company to obtain SCORES authentication would not only be deemed as non-redressal of investor grievances but would also indicate willful avoidance of the same.
Order in respect of Bharat Line Ltd. in the matter of Non-obtaining of SCORES authentication Page 3 of 7 SHOW CAUSE NOTICE, REPLY AND HEARING
Order in respect of Bharat Line Ltd. in the matter of Non-obtaining of SCORES authentication Page 4 of 7 g. Notwithstanding our company equity shares are hardly traded on the floor of BSE, the company has appointed SEBI registered Registrar & Shares Transfer Agent- Satellite Corporate Services Pvt. Ltd. h. In terms of special resolutions passed by the members in their Annual General Meeting held on 30/09/2018 to look after all services of members of the company and to redress any matters relating to investor grievances if any. i. We further have to state that we attend all shareholders matters on day to day basis and guide/advise and resolve shareholders matters if the requisite documents are received from the members are in
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Source: SecMarx — sebi:AKD/AO-77/2018-19. 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.