sebi:AS/AO-03/2014
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Facts / Headnote
Penalty imposed on the Noticee Company under Sections 15C and 15HB of the SEBI Act for failure to redress investor grievances and failure to obtain SCORES authentication.
Provisions invoked
- s. 15
- s. 15C
Parties
- Jaybharat Fabrics Mills Ltd.
Holding
The Noticee Company was held liable for failing to obtain SCORES authentication, failing to submit Action Taken Reports (ATR), and failing to redress pending investor grievances despite repeated SEBI directives, in violation of Sections 15C and 15HB of the SEBI Act. A consolidated penalty of Rs. 3,00,000/- was imposed (Rs. 2,00,000 under Section 15C and Rs. 1,00,000 under Section 15HB).
Full text
Page 2 of 7 investor grievance, in spite of being called upon by SEBI to do so. Subsequently, I have been appointed as Adjudicating Officer, in the present matter, vide order dated September 23, 2013. Show Cause Notice, Reply of Noticee and Personal Hearing:
Page 3 of 7 Act. The provisions of Section 15C and 15HB of the SEBI Act are produced hereunder; Penalty for failure to redress investors’ grievances.
Page 4 of 7 Consideration of Issues and Finding: 6. I have taken into consideration the facts and circumstances of the case, and the material made available on record. It was alleged in the SCN that the Noticee did not obtain SCORES authentication as advised, failed to submit the ATR and redress the pending two investor complaints against it in the SCORES within the time specified.
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Source: SecMarx — sebi:AS/AO-03/2014. 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.