sebi:AO/SM-LS/ERO/25/2016
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Facts / Headnote
Penalty of Rs. 1,50,000 imposed on the Noticee under Section 15HB of the SEBI Act for failure to comply with SEBI circulars and directions regarding SCORES authentication.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Apex Holdings Ltd.
Holding
The Noticee, Apex Holdings Ltd., was held liable for failing to obtain SCORES authentication as required by SEBI circulars and the subsequent letter dated December 2, 2013, constituting a violation attracting penalty under Section 15HB of the SEBI Act. A penalty of Rs. 1,50,000 was imposed.
Full text
Page 2 of 6 15HB of SEBI Act for the alleged violation of SEBI circular 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.
Page 3 of 6 CONSIDERATION OF ISSUES AND FINDINGS 8. I have examined the SCN, the reply and the submissions of the Noticee, and other information and documents available on record.
Page 4 of 6 to comply with the directions of SEBI contained in the SEBI circulars and thereafter the directions contained in the letter dated December 2, 2013 amounts to repeated violation of the directions given by SEBI.
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Source: SecMarx — sebi:AO/SM-LS/ERO/25/2016. 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.