sebi:AO/AK/1/2018
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Facts / Headnote
Penalty imposed on Noticee under Section 15HB of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Parties
- Brindaban Holdings and Tradings Ltd.
Holding
The Noticee violated SEBI Circulars by failing/delaying in obtaining SCORES authentication for over five years after the deadline, attracting a penalty of Rs.10,00,000 under Section 15HB of the SEBI Act.
Full text
Adjudication Order in the matter of Brindaban Holdings and Tradings Ltd. Page 2 of 10 3. It was, therefore, alleged that the Noticee has failed to obtain SCORES authentication and thereby violated the SEBI Circulars, thus, making the Noticee liable for imposition of penalty under Section 15HB of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "the SEBI Act").
Adjudication Order in the matter of Brindaban Holdings and Tradings Ltd. Page 3 of 10 21, 2017. The AR confirmed that there were no past non-compliance of SEBI Act and Regulations by the Noticee and no action taken by SEBI in the past against the Noticee.
Adjudication Order in the matter of Brindaban Holdings and Tradings Ltd. Page 4 of 10 11. Subsequently, vide Circular CIR/OIAE/1/2012 dated August 13, 2012, all companies whose securities are listed on stock exchanges were advised to obtain SCORES authentication in terms of the aforesaid Circular by September 14, 2012. It was also specified that in case of failure to comply with the
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Source: SecMarx — sebi:AO/AK/1/2018. 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.