sebi:AKD/AO-84/2019-2020
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15C
- s. 20(1)
Parties
- Terryfab India Ltd.
Holding
The allegations of failing to obtain SCORES authentication and failing to redress investor complaints were not established because the Noticee company is not listed on any SEBI recognized Stock Exchange. The adjudication proceedings initiated vide Show Cause Notice dated January 30, 2018 were disposed of without penalty.
Full text
In the matter of Non-obtaining of SCORES authentication and non redressal of investor grievance Page 2 of 6 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.
In the matter of Non-obtaining of SCORES authentication and non redressal of investor grievance Page 3 of 6 terms of Rule 4 of the Rules read with Section 15-I of the SEBI Act, 1992 and penalty be imposed under section 15C and 15HB of the SEBI Act, 1992 for the alleged violation of the provisions of the SEBI Consolidated Circular and non redressal of the investor grievances within a stipulated time pending at SCORES.
In the matter of Non-obtaining of SCORES authentication and non redressal of investor grievance Page 4 of 6 investor complaints within 7 days and will intimate SEBI in writing within March 22, 2018 regarding the status of resolution of the investor complaints. The Noticee acknowledges the receipt of copies of complaint No. SEBIE/RJ14/0000081/1 dated March 08, 2014 and SEBIE/RJ13/0000185/1 dated May 22, 2013. The Noticee also submits that it wants to make further written submissions within March 27, 2018 and seeks a further hearing on March 29, 2018 at 11:30 hrs.
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Source: SecMarx — sebi:AKD/AO-84/2019-2020. 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.