sebi:AO/SBM/EAD/90/2017
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 15H
- s. 15C
Parties
- South Asian Mushrooms Ltd.
Holding
The Adjudicating Officer held that no penalty is warranted against the Noticee under sections 15C and 15A(a) of the SEBI Act, and disposed of the adjudication proceedings initiated by the SCN dated July 30, 2013.
Full text
Page 2 of 6 APPOINTMENT OF ADJUDICATING OFFICER 2. Vide Order dated May 10, 2013, Shri D Ravikumar was appointed as the Adjudicating Officer (AO) under Section 19 read with Section 15-I of the SEBI Act and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under the provisions of section 15A (a) and section 15C of the SEBI Act for the alleged failure on the part of the Noticee to redress the pending investor complaints received against it in SCORES and also its failure to upload the Action Taken Report (ATR) in SCORES. Pursuant to the transfer of Shri D. Ravikumar, the undersigned was appointed as the Adjudicating officer in the matter, vide order dated June 22, 2015. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Page 3 of 6 investor grievances, if proved, makes the Noticee liable for penalty under the provisions of sections 15A (a) and 15C of the SEBI Act.
Page 4 of 6 of investors, fails to redress such grievances within the time specified by the Board, such company or intermediary shall be liable to a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less
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Source: SecMarx — sebi:AO/SBM/EAD/90/2017. 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.