sebi:AO/VKV-DL/196/2016
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Facts / Headnote
Adjudicating proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Healthcaps India Ltd
Holding
The Noticee was not found liable for failing to resolve investor grievances, as it had obtained SCORES authentication and resolved the six pending complaints within the stipulated time; consequently, no monetary penalty under Section 15C of the SEBI Act, 1992 was imposed.
Full text
Adjudication order in respect of M/s Healthcaps India Ltd April 06, 2016 Page 2 of 5 2. As observed from the contents of the Circular, SCORES introduced electronic dealing of the complaints of the investors, by the respective companies. Thus, once a complaint against a company was uploaded by SEBI in the SCORES, it amounted to calling upon by SEBI to such company to redress the investor grievance. Accordingly, it was incumbent upon such company to redress the investor complaint. It was observed that six (06) investor complaint was pending against the Noticee as on July 22, 2012.
Adjudication order in respect of M/s Healthcaps India Ltd April 06, 2016 Page 3 of 5 to why an inquiry be not held against it in terms of rule 4 of the Rules read with section 15I of SEBI Act, 1992 and penalty be not imposed under section 15C of SEBI Act, 1992 for the violations alleged to have been committed by the Noticee.
Adjudication order in respect of M/s Healthcaps India Ltd April 06, 2016 Page 4 of 5 c) If so, what would be the quantum of monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of the SEBI Act as well as internal guidelines of SEBI issued from time to time in this regard?
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Source: SecMarx — sebi:AO/VKV-DL/196/2016. 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.