sebi:BS/AO-28/2007
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on the company for failure to redress investor grievances
Provisions invoked
- s. 15
- s. 15J
- s. 15C
Parties
- Pentafour Solec Technology Ltd.
Holding
The Adjudicating Officer held that Pentafour Solec Technology Ltd. contravened Section 15C of the SEBI Act, 1992 by failing to redress investor grievances within the time specified by SEBI, and imposed a penalty of Rs. 3,00,000/-.
Full text
2 investors were pending to be redressed by the company and in view of the same the company was called upon to redress the said complaints. It is alleged that despite receiving the said notice from SEBI, the company failed to redress the grievances.
3 7. On March 22, 2006 the company was granted another opportunity of hearing and Shri Aditya Bhansali, representative of the company attended the hearing and requested for a short adjournment. Considering the request of the company, hearing was adjourned to March 27, 2006. Shri Aditya Bhansali, representative of the company attended the hearing on the said date and made the following submissions:
4 get a clarification from the Madras High Court “whether it would be appropriate for the appeal to be taken up pending disposal of the writ petition.”
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:BS/AO-28/2007. 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.