sebi:AO/AK/62/2017
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Facts / Headnote
Penalty imposed on the Noticee under Section 15HB of the SEBI Act for failure to obtain SCORES authentication.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Parties
- Autoriders International Ltd.
Holding
The Noticee violated SEBI Circulars by failing/delaying in obtaining SCORES authentication, and a penalty of Rs. 8,00,000/- was imposed under Section 15HB of the SEBI Act.
Full text
Adjudication Order in the matter of Autoriders International 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 Autoriders International Ltd. Page 3 of 10 A copy of the ‘Form A’ for obtaining SCORES Authentication and a copy of the email from SEBI providing the Noticee with the SCORES Username and Password was also enclosed with the said letter.
Adjudication Order in the matter of Autoriders International Ltd. Page 4 of 10 • Online upload of Action Taken Reports (ATRs) by the concerned companies, and • Online viewing by investors of actions taken on the complaint and its current status. The Circular stipulated that all complaints pertaining to companies would be electronically sent through SCORES, and companies were required to view the complaints pending against them and submit ATRs alongwith supporting documents electronically in SCORES. All companies whose securities are listed on Stock Exchanges were advised to comply with the aforesaid Circular.
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Source: SecMarx — sebi:AO/AK/62/2017. 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.