sebi:AO/VKV-DL/03/2016
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Facts / Headnote
Adjudication proceedings disposed of with no penalty; allegation under Section 15C held not tenable
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- UP Lime Chem Ltd.
Holding
The Noticee has not violated Section 15C of the SEBI Act, 1992 and is not liable for monetary penalty thereunder. The adjudication proceedings initiated vide Show Cause Notice dated December 18, 2015 are disposed of without penalty.
Full text
Adjudicating Order in respect of UP Lime Chem 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, a letter dated April 16, 2012 was sent to the Noticee 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. Both the above mentioned letters returned undelivered.
Adjudicating Order in respect of UP Lime Chem Ltd. January 29, 2016 Page 3 of 6 SHOW CAUSE NOTICE, REPLY AND HEARING 6. A Show Cause Notice (hereinafter referred to as “SCN”) was issued to the Noticee under Rule 4 of Adjusting Rules to show cause as to why an inquiry be not held against it in terms of Rule 4 of the Adjudicating Rules read with section 15I if SEBI Act, 1992 and
Adjudicating Order in respect of UP Lime Chem 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?
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Source: SecMarx — sebi:AO/VKV-DL/03/2016. 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.