sebi:EAD/BJD/BKM/57/2017-18

SEBI · SEBI · 2014-12-18 · B J Dilip, Adjudicating Officer

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Facts / Headnote

Penalty of Rs. 1,00,000 imposed on the Noticee under Section 15HB of the SEBI Act; matter decided ex-parte

Provisions invoked

• s. 15
• s. 15H
• s. 15J

Parties

• M/s Pinky Chemicals Limited

Holding

The Noticee violated SEBI Consolidated Circular CIR/OIAE/1/2014 dated December 18, 2014 by failing to obtain SCORES authentication and is liable for penalty under Section 15HB of the SEBI Act. A monetary penalty of Rs. 1,00,000 was imposed on M/s Pinky Chemicals Limited.

Full text

Adjudication Order in the Matter of Pinky Chemicals Ltd Page 2 of 11 stipulated time period. The said SEBI Consolidated Circular further, inter alia, stated that failure by any listed company to obtain SCORES authentication would not only be deemed as non-redressal of investor grievances, but, also indicate wilful avoidance of the same and that failure to take action under the rescinded circulars before the date of issuance of SEBI Consolidated Circular, shall be deemed to have been done or taken or commenced under the provisions of SEBI Consolidated Circular.

Adjudication Order in the Matter of Pinky Chemicals Ltd Page 3 of 11 SHOW CAUSE NOTICE, REPLY AND HEARING 1. A Show Cause Notice No. EAD-6/AK/VG/19525/2017 dated August 18, 2017 (hereinafter referred to as "SCN") was issued to the Noticee under rule 4 of the Rules to show cause as to why an inquiry should not be held against them in terms of rule 4 of the Rules read with section 15-I of SEBI Act and penalty be not imposed under Section 15HB of the SEBI Act for the alleged violation of provisions of the SEBI Consolidated Circular by not obtaining SCORES authentication.

Adjudication Order in the Matter of Pinky Chemicals Ltd Page 4 of 11 the hearing proceedings on the stipulated date and time, it will be presumed that Noticee has no submissions to offer in its defence and the matter would be further proceeded with on the basis of the material available on record.

Source: SecMarx — sebi:EAD/BJD/BKM/57/2017-18. 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.