sebi:EAD/AO/BJD/VS/2019-20/4021

SEBI · SEBI · 2014-04-10 · B J Dilip, Adjudicating Officer

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Facts / Headnote

Penalty of Rs 1,00,000 imposed under Section 15HB of the SEBI Act, 1992

Provisions invoked

• s. 15
• s. 15H
• s. 15I
• s. 15J
• s. 28A

Parties

• Kamayani Engineering Products Ltd

Holding

The Noticee violated SEBI Circular No. CIR/OIAE/1/2013 dated April 17, 2013 by failing to obtain SCORES authentication within 30 days of issuance and is liable for monetary penalty under Section 15HB of the SEBI Act, 1992. A penalty of Rs 1,00,000 was imposed on Kamayani Engineering Products Ltd.

Full text

Adjudication Order in respect of Kamayani Engineering Products Ltd Page 2 of 11 APPOINTMENT OF ADJUDICATING OFFICER 3. Shri Amar Navlani was appointed as the Adjudicating Officer (hereinafter referred to as 'AO') vide order dated April 10, 2014 under Section 15-I of the SEBI Act, 1992 and Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the “AO Rules”) to inquire and adjudge under the provisions of Section 15HB of the SEBI Act, 1992, the alleged violations of the Noticee. Subsequently, the undersigned was appointed as AO vide Order dated January 8, 2019. The order appointing the undersigned was communicated vide communiqué dated June 07, 2019.

Adjudication Order in respect of Kamayani Engineering Products Ltd Page 3 of 11 Company does not have adequate staffs that are abreast with the legal compliance requirements.

Adjudication Order in respect of Kamayani Engineering Products Ltd Page 4 of 11 5. Considering the reply of the Noticee, in the interest of the natural Justice, the Noticee was granted an opportunity of hearing on December 15, 2017 which was further adjourned to January 11, 2018 on the request of the Noticee. On the date of the hearing, Mr. Gyan Prakash Khaitan, Director of Noticee (hereinafter referred to as “AR”) appeared on behalf of the Noticee. During the hearing, the Noticee reiterated the submission made by them vide their reply dated March 22, 2016 and sought time of 7 days to make additional submissions. The request of the Noticee was acceded to and the hearing proceedings was concluded.

Source: SecMarx — sebi:EAD/AO/BJD/VS/2019-20/4021. 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.