sebi:AO/SBM/EAD-3/85/2017
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 11
- s. 15
- s. 19
- s. 15H
Parties
- Sheena Textiles Ltd. (Formerly known as Texport Textiles Ltd.)
Holding
The adjudication proceedings against Sheena Textiles Ltd. under sections 15A(a) and 15C of the SEBI Act could not be proceeded with and were disposed of without imposition of any penalty.
Full text
Page 2 of 8 authentication. Therefore, adjudication proceedings were initiated against the Noticee under the provisions of sections 15A (a) and 15C of the SEBI Act, 1992 (hereinafter referred to as ‘SEBI Act’).
Page 3 of 8 was alleged that the Noticee had failed to submit the desired details w.r.t SCORES authentication despite the aforementioned directions/circulars issued by SEBI. b) It was also alleged that the Noticee had failed to take appropriate steps to redress 9 (nine) complaints received against it in the SCORES and also failed to submit the ATR w.r.t these complaints. It was alleged that the failure on the part of the Noticee to furnish the ATR and non-redressal of the 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 8 (a) to furnish any document, return or report to the Board, fails to furnish the same, he 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-3/85/2017. 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.