sebi:AO/SM-LS/ERO/09/2016
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Facts / Headnote
Penalty imposed on Noticee under Section 15HB of SEBI Act for failure to obtain SCORES authentication
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Noticee (unnamed listed company)
Holding
The Noticee, a listed company, failed to comply with SEBI Circulars requiring SCORES authentication, and was held liable for a monetary penalty of Rs. 2,50,000 under Section 15HB of the SEBI Act.
Full text
Page 2 of 7 of SEBI Act for the alleged violation of SEBI Circulars by the Noticee. Pursuant to the transfer of Shri S V Krishanmohan, the undersigned was appointed as Adjudicating Officer vide Order dated June 22, 2015. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Page 3 of 7 b) Does the violation, if any, on the part of the Noticee attract monetary penalty under Section 15 HB of the SEBI Act? c) If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in Section 15J of the SEBI Act?
Page 4 of 7 Supreme Court in the matter of Board Of Directors, H.P.T.C.& Anr vs K.C. Rahi vide its order dated February 20, 2008 has held that:-
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Source: SecMarx — sebi:AO/SM-LS/ERO/09/2016. 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.