sebi:AO/SM-LS/ERO/32/2017
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Noticee (entity whose shares were delisted from Calcutta Stock Exchange)
Holding
The Noticee was not found to have violated SEBI Circulars requiring SCORES authentication, as verification confirmed authentication was obtained on December 17, 2013, before the stipulated date. Consequently, no monetary penalty under Section 15HB of the SEBI Act was imposed and the proceedings were disposed of.
Full text
Page 2 of 4 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 4 vi. Furthermore, the shares of the Noticee have been delisted from Calcutta Stock Exchange w.e.f from 18.11.2015, hence it is understood that the Noticee is not required to comply with the SCORES matter. The personal hearing scheduled on December 22, 2016 was postponed to December 26, 2016 due to administrative exigencies and the same was informed to the Noticee vide letter dated December 22, 2016. On December 26, 2016 Mr. Rakesh Kumar Gupta (Authorized Representative) of the Noticee appeared before me and reiterated the
Page 4 of 4 authentication within the time line stipulated by SEBI, as alleged in the SCN, does not stand established. Issue 2: Does the violation, if any, on the part of the Noticee attract monetary penalty under Section 15 HB of the SEBI Act?
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Source: SecMarx — sebi:AO/SM-LS/ERO/32/2017. 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.