sebi:AO/VKV-DL/02/2016
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Facts / Headnote
Adjudicating proceedings initiated vide Show Cause Notice dated December 11, 2015 disposed of; Noticee held not liable for monetary penalty under Section 15C
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- Shriram Bearings Ltd.
Holding
The Noticee has not violated Section 15C of the SEBI Act, 1992 and is not liable for monetary penalty under Section 15C. The adjudication proceedings are disposed of without penalty.
Full text
Adjudicating Order in respect of Shriram Bearings Ltd. January 29, 2016 Page 2 of 6 2. In order to further remind the Noticee about the compliance with the requirements as laid down in the SEBI Circular dated June 03, 2011, an undated letter was sent to the Noticee on November 22, 2011 informing about the commencement of processing of investor complaints in a centralized web based complaints redress system SCORES in terms of the Circular and advising the Noticee to send the information (i.e. details for authentication) as required in the Circular, at the earliest. The above mentioned letters returned undelivered stating “left”.
Adjudicating Order in respect of Shriram Bearings Ltd. January 29, 2016 Page 3 of 6 SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudicating Order in respect of Shriram Bearings Ltd. January 29, 2016 Page 4 of 6 a) Whether the Noticee has violated the provisions of Section 15C of SEBI Act, 1992? b) Whether the Noticee is liable for monetary penalty under Section 15C of the SEBI Act, 1992? c) What quantum of monetary penalty should be imposed on the Noticee taking into consideration the factors mentioned in Section 15J of the SEBI Act, 1992?
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Source: SecMarx — sebi:AO/VKV-DL/02/2016. 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.