sebi:AO/SG-DP/EAD/42/2017

SEBI · SEBI · 2013-04-17 · Suresh Gupta, Adjudicating Officer

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Facts / Headnote

Penalty imposed on Noticee under Section 15HB of the SEBI Act, 1992; allegation under Section 15C not sustained

Provisions invoked

• s. 15
• s. 15H
• s. 15J
• s. 15C

Parties

• Tatanagar Bricks Ltd

Holding

The Noticee was held liable for failing to obtain SCORES authentication in violation of SEBI's directions, and a penalty of Rs. 5.0 Lakh was imposed under Section 15HB of the SEBI Act, 1992. The allegation of violation of Section 15C was not sustained as the statutory precondition of being called upon in writing to redress grievances was not satisfied.

Full text

Adjudication Order in respect of Tatanagar Bricks Ltd Page 2 | 12 companies which were yet to obtain SCORES user id and password, were required to submit the details for authentication to SEBI, in the format annexed to the Circular dated 17.04.2013. However, it was observed that Tatanagar Bricks Limited (hereinafter referred to as ‘Noticee’) did not submit the details to SEBI which were required to be furnished in terms of the said Circular.

Adjudication Order in respect of Tatanagar Bricks Ltd Page 3 | 12 it and to obtain SCORES authentication. Subsequently upon the transfer of Shri Jayanta Jash, the undersigned has been appointed as the Adjudicating Officer vide Order dated 22.06.2015.

Adjudication Order in respect of Tatanagar Bricks Ltd Page 4 | 12 letter no. 11.01.186 Dt 02.01.2014, we had communicated to The Asst. General Manager, on change of address of the company along with copy of duly filed authentication for Scores form (Xerox copy enclosed).

Source: SecMarx — sebi:AO/SG-DP/EAD/42/2017. 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.