sebi:AO/GR/1/2018
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Facts / Headnote
Penalty imposed on the Noticee for failure to redress investor grievances and file ATR in SCORES
Provisions invoked
- s. 15
- s. 15I
- s. 15C
Parties
- Aankit Granites Ltd.
Holding
The Noticee, Aankit Granites Ltd., was held to have violated SEBI Circulars CIR/OIAE/1/2012 and CIR/OIAE/1/2013 by failing to resolve nine investor complaints within the stipulated time and failing to file ATR in SCORES, and a penalty of Rs. 2,00,000/- was imposed under Section 15C of the SEBI Act.
Full text
Page 2 of 8 In the matter of Aankit Granites Ltd. 3. As observed from the contents of the SEBI Circulars, SCORES introduced electronic dealing of the complaints of the investors, by the respective companies. Thus, once a complaint against a company was uploaded in the SCORES marked against the company, it amounted to calling upon by SEBI to such company to redress the investor grievance. Accordingly, it was incumbent upon such company to redress the investor complaint. It was observed that nine investor complaints were pending against the Noticee.
Page 3 of 8 In the matter of Aankit Granites Ltd. dated April 12, 2016 the undersigned was appointed as the Adjudicating Officer to inquire into and adjudge the alleged violations under Section 15C of the SEBI Act committed by the Noticee.
Page 4 of 8 In the matter of Aankit Granites Ltd. such, I proceed to consider the matter ex-parte based on the evidence/material available on record.
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Source: SecMarx — sebi:AO/GR/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.