sebi:AO/SBM-ASR/EAD-3/7/2015
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Facts / Headnote
Alleged violations of Sections 15A(a) and 15C of the SEBI Act not established; matter disposed of without penalty
Provisions invoked
- s. 15A
- s. 15
- s. 15C
Parties
- Triumph International Finance India Limited
Holding
The Adjudicating Officer held that the Noticee, Triumph International Finance India Limited, did not violate Section 15A(a) or Section 15C of the SEBI Act, as it had taken appropriate steps to redress the investor grievance and the delay in updating the ATR was not a serious lapse warranting penalty.
Full text
Page 2 of 9 undersigned as the Adjudicating Officer vide Order dated June 22, 2015 in the said matter. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING:
Page 3 of 9 (d) In view of the above, it was alleged that the Noticee had failed to submit the ATR as required, which resulted in the violation of the provisions of Section 15 A (a) of the SEBI Act and had also failed to redress the complaint of Mr. Satyendra, as aforesaid, which resulted in the violation of the provisions of Section 15C of the SEBI Act by the Noticee. The relevant provisions of Sections 15A(a) and 15C of the SEBI Act allegedly violated by the Noticee , which was mentioned in the SCN are submitted as under;
Page 4 of 9 (b) The Noticee submitted that it had acted diligently to resolve the complaint from its side and since the complainant had not provided the complete details relating to his complaint such as folio no., or name on the folio of the seller from whom he had bought the shares etc, Noticee mentioned that they were not in a position to resolve the complaint.
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Source: SecMarx — sebi:AO/SBM-ASR/EAD-3/7/2015. 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.