sebi:AS/AO/09/2014
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Facts / Headnote
Violation established; consolidated penalty of Rs 2,00,000 imposed
Provisions invoked
- s. 15
- s. 15J
- s. 15C
Holding
The Noticee violated SEBI SCORES circulars by delaying SCORES authentication, ATR submission and redressal of 4 investor grievances, attracting liability under Sections 15C and 15HB of the SEBI Act. A consolidated penalty of Rs 2,00,000 (Rs 1,00,000 under Section 15C and Rs 1,00,000 under Section 15HB) was imposed.
Full text
Page 2 of 11 Exchange (CSE). The shares are compulsorily delisted from Bombay Stock Exchange (BSE). 3. Based on the aforesaid observations, it was alleged that by failing to obtain SCORES authentication/submit ATR and to redress the pending investor grievances within the stipulated time as directed, the Noticee has violated the aforesaid SEBI Circulars No. CIR/OIAE/1/2011 dated June 03, 2011, CIR/OIAE/1/2012 dated August 13, 2012 and CIR/OIAE/1/2013 dated April 17,
Page 3 of 11 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 6. Show Cause Notice no. ILO/AS/842/2014 dated January 08, 2014 (hereinafter referred to as "SCN") was served on the Noticee by “Registered Post” in termsof the provisions of Rule 4 of the Rules requiring the Noticee to show cause as to why an inquiry should not be held against the Noticee and why penalty, if any,should not be imposed on the Noticee under Section 15C and 15HB of the SEBI Act for the non-redressal of investor grievances, failure to obtain SCORES authentication and failure to submit ATRinspite of being calledupon by SEBI in writing to do so.
Page 4 of 11 i. With respect to complaint no. SEBIE/RJ13/0000239/1(Mr.YogeshJagdishbhai Mehta) - The investor has transferred his shares to other shareholder and has received full value of claim. We are attaching herewith copy of the draft received by the investor along with copy of letter and copy of receipt registered post sent to investor. It is also stated that the said fact has been submitted to SCORES now. ii. With respect to complaint no. SEBIP/RJ/11/0000170/1(Ms.SwapnaSinha) - The investor has en given point wise reply of queries raised. We are attaching herewith copy of the letter and copy of receipt registered post sent to investor. ATR has been submitted on 10.06.2013 on SCORES also. iii. With respect to complaint no. SEBIP/RJ12/0000017/1(Mr.Satram Das) - The matter has been settled amicably with Mr. Satram Das. He has also no complaint pending with the company. A copy of letter received from Mr. Satram Das is enclosed herewith. ATR has been submitted on 02.07.2013 on SCORES also. iv. With respect to complaint no. SEBIP/RJ13/0000131/1(Mr.Alice Mathai) The investor has en given point wise reply of queries raised. We are attaching herewith copy of the letter and copy of receipt registered post sent to investor. ATR has been submitted on 10.06.2013 on SCORES also. v. With abovementioned facts we would also like to pray that since all cases except one the replies have already been given earlier and now no complaint is pending against us to non response or non complianc
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Source: SecMarx — sebi:AS/AO/09/2014. 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.