sebi:AO/SG-AK/EAD/17/2016
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Facts / Headnote
Adjudication proceedings disposed of; no violation found, no penalty imposed
Provisions invoked
- s. 15H
- s. 15I
- s. 15C
Parties
- M/s Shriram Housing Finance & Investment Limited
Holding
The Noticee was held not to have violated Section 15C of the SEBI Act, 1992, and consequently was 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 Shriram Housing Finance & Investment Limited Page 2 of 10 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 April 16, 2012 was sent to the Noticee informing about the commencement of processing of investor complaints in a centralized web based complaints redress system “SCORES” in terms of the Circular and advising the Noticee to send the information (i.e. details for authentication) as required in the Circular, at the earliest.
Adjudication Order in respect of M/s Shriram Housing Finance & Investment Limited Page 3 of 10 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 Shriram Housing Finance & Investment Limited Page 4 of 10 February 13, 2015, vide notice dated January 20, 2015 at SEBI, Head Office, Mumbai. The said Notice of hearing along with a copy of SCN dated August 13, 2013 and annexure was sent to the Noticee at "Bunglow No.66, Balrampur House, Allahbad, Uttar Pradesh – 211002” through Lucknow Local Office of SEBI and copy through Registered post. It is observed that Lucknow Local Office of SEBI had affixed the said notice on January 31, 2015 as per the affixture report received.
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Source: SecMarx — sebi:AO/SG-AK/EAD/17/2016. 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.