sebi:AO/SBM/EAD-3/88/2017
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Facts / Headnote
Violation not established - matter disposed of without penalty
Provisions invoked
- s. 24
- s. 15
- s. 15C
- s. 17(3)
Parties
- Unimin India Limited
Holding
The alleged violation of section 15C of the SEBI Act, 1992 is not established against the Noticee viz. Unimin India Limited and the matter is accordingly disposed of without penalty.
Full text
Page 2 of 9 the Noticee under section 15C of the SEBI Act, 1992 (hereinafter referred to as ‘SEBI Act’) for its alleged failure to redress the investor complaints. APPOINTMENT OF ADJUDICATING OFFICER
Page 3 of 9 b) It is alleged that the Noticee neither replied to the aforementioned letter dated January 22, 2013 nor had taken any steps to redress the pending complaints within the stipulated time in spite of being called upon by SEBI in writing to do so. Further, it was alleged that as on May 24, 2013, the seven complaints were shown as pending to be resolved by the Noticee in SCORES for more than 30 days out of which six grievances were pending for more than two years. c) The alleged non-redressal of investor grievances, if proved, makes the Noticee liable for penalty under Section 15C of the SEBI Act.
Page 4 of 9 of the company. It was also mentioned by the Noticee in the said letter dated November 20, 2013 that the company has not defaulted in the matter regarding redressal of the investor complaints.
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Source: SecMarx — sebi:AO/SBM/EAD-3/88/2017. 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.