sebi:AO/SG-AK/EAD/08/2016
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Haryana Suraj Maltings Limited
Holding
The Noticee was held not to have violated Section 15C of the SEBI Act, 1992, and consequently not liable for any monetary penalty, because the statutory precondition of being 'called upon by the Board in writing' to redress grievances was not fulfilled.
Full text
Adjudication Order in respect of M/s Haryana Suraj Maltings Limited Page 2 of 7 January 20, 2016 2. In order to further remind the Noticee about the compliance with the requirements as laid down in the SEBI Circular dated June 03, 2011, a letter dated December 7, 2011 followed by another letter dated January 18, 2012 was sent to the Noticee. Both the letters sent to the Noticee informed about the commencement of processing of investor complaints in a centralized web based complaints redress system “SCORES” in terms of the Circular and advised the Noticee to send the information (i.e. details for authentication) as required in the Circular, at the earliest, within 7 days, respectively.
Adjudication Order in respect of M/s Haryana Suraj Maltings Limited Page 3 of 7 January 20, 2016 transfer of Shri Jayanta Jash, the undersigned was appointed as Adjudicating Officer vide Order dated June 22, 2015.
Adjudication Order in respect of M/s Haryana Suraj Maltings Limited Page 4 of 7 January 20, 2016 9. Subsequent to the appointment of the undersigned, in the interest of natural justice and in order to conduct an inquiry in terms of rule 4(3) of the Adjudication Rules, the Noticee was granted an opportunity of hearing on September 14, 2015, vide notice dated August 25, 2015 at SEBI, Head Office, Mumbai. The said Notice of hearing was sent at “96 K.M. Stone, Delhi – Jaipur Road, Bawal, Dist. Rewari – 123501, Haryana” through Speed Post AD. However, the said Notice of hearing was returned undelivered.
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Source: SecMarx — sebi:AO/SG-AK/EAD/08/2016. 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.