sebi:AO/SBM/EAD-3/100/2017
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Facts / Headnote
Adjudication proceedings initiated vide SCN dated May 26, 2017 disposed of without imposition of any penalty
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 248
Parties
- Nitin Industries Limited
Holding
The adjudication proceedings initiated against Nitin Industries Limited vide SCN dated May 26, 2017 for failure to obtain SCORES authentication were disposed of without imposition of any penalty under Section 15HB of the SEBI Act.
Full text
Page 2 of 4 investor grievances within the stipulated time period. The said SEBI consolidated circular further, inter alia, stated that failure on the part of the listed companies to obtain SCORES authentication would not only be deemed as non-redressal of investor grievances, but, also indicate wilful avoidance of the same.
Page 3 of 4 the adjudication rules, is on record. The Noticee was advised to file its reply to the SCN and was also provided with an opportunity of hearing. However, the Noticee failed to respond to the aforementioned letter till date. Therefore, I am compelled to proceed further in the matter on the basis of facts/material available on record. CONSIDERATION OF ISSUES AND FINDINGS:
Page 4 of 4 ORDER 10. In view of my findings recorded in the preceding paragraphs, the adjudication proceedings initiated against the Noticee viz. Nitin Industries Limited vide SCN dated May 26, 2017 is disposed of without imposition of any penalty.
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Source: SecMarx — sebi:AO/SBM/EAD-3/100/2017. 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.