sebi:AO/SG-DP/EAD/43/2017
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Facts / Headnote
Penalty imposed on Noticee under Section 15C of SEBI Act; allegation under Section 15A(a) not tenable
Provisions invoked
- s. 15A
- s. 15
- s. 11(1)
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- Sethi Engineers and Foundry Ltd.
Holding
The Noticee violated Section 15C of the SEBI Act by failing to redress 8 investors' grievances within the time specified by SEBI, and a penalty of Rs. 1.0 Lakh was imposed. The allegation of violation of Section 15A(a) was held not tenable as the circulars were issued under Section 11(1) and do not fall within the contours of Section 15A(a).
Full text
__________________________________________________________________________________________________________________________________ Adjudication Order in respect of Sethi Engineers and Foundry Ltd. Page 2 of 11 the action taken thereon. Further, the companies had to file Action Taken Report (hereinafter referred to as ‘ATR’) under SCORES within 30 days of date of receipt of the grievance.
__________________________________________________________________________________________________________________________________ Adjudication Order in respect of Sethi Engineers and Foundry Ltd. Page 3 of 11 SHOW CAUSE NOTICE, REPLY & HEARING
__________________________________________________________________________________________________________________________________ Adjudication Order in respect of Sethi Engineers and Foundry Ltd. Page 4 of 11
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Source: SecMarx — sebi:AO/SG-DP/EAD/43/2017. 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.