sebi:AO/VKV-DL/202/2016

SEBI · SEBI · 2012-08-22 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Proceedings disposed of; allegation not established, no penalty imposed

Provisions invoked

• s. 15
• s. 15I
• s. 15J
• s. 15C

Parties

• M/s Sai Capital Ltd

Holding

The Noticee was not found to have failed to resolve investor grievances, and consequently was not liable for any monetary penalty under Section 15C of the SEBI Act, 1992. The adjudicating proceedings initiated by the Show Cause Notice dated February 02, 2016 were disposed of.

Full text

Adjudication order in respect of M/s Sai Capital 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 one (01) investor complaint was pending against the Noticee as on July 22, 2012.

Adjudication order in respect of M/s Sai Capital 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 Sai Capital Ltd April 06, 2016 Page 4 of 5 ISSUE 1: Whether the Noticee has failed to resolve investor grievances?

Source: SecMarx — sebi:AO/VKV-DL/202/2016. 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.