sebi:AO/EAD/SG-SKS/99/2018
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Facts / Headnote
Adjudication proceedings initiated vide SCN dated June 28, 2016 and SSCN dated January 09, 2018 disposed of without imposition of penalty
Provisions invoked
- s. 11B
- s. 15A
- s. 15
- s. 15H
- s. 15C
Parties
- Spearhead Metals & Alloys Limited
Holding
The Adjudicating Officer disposed of the adjudication proceedings initiated vide SCN dated June 28, 2016 and SSCN dated January 09, 2018 against Spearhead Metals & Alloys Limited. The Noticee was held not liable for monetary penalty under Section 15C and Section 15HB of the SEBI Act.
Full text
Adjudication Order in respect of Spearhead Metals & Alloys Ltd Page 2 of 7 adjudge under the provisions of Section 15A (a) and Section 15C of the SEBI Act for the alleged violations committed by the Noticee. Pursuant to the transfer of Shri. Prasad Jagadale, the undersigned has been appointed as the Adjudicating Officer vide Order dated December 14, 2016 and the proceedings were received on February 09, 2017. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in respect of Spearhead Metals & Alloys Ltd Page 3 of 7 5. In response to the Notice dated November 06, 2017, OIAE vide letter dated January 05, 2018, inter-alia, submitted that the SCORES authentication was provided to the Noticee on July 23, 2012. A copy of the said reply has been endorsed to the Noticee by OIAE.
Adjudication Order in respect of Spearhead Metals & Alloys Ltd Page 4 of 7 Accordingly it may be noted that the day when the show cause no EAD/PJ/JAK/18152/2016 dated June 28, 2016 was issued, there were no pending complaints against the company. The same is also written in Para 4 of the SEBI
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Source: SecMarx — sebi:AO/EAD/SG-SKS/99/2018. 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.