sebi:EAD/BJD/NJMR/3/2017-18

SEBI · SEBI · 2015-04-21 · B J Dilip, General Manager & Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty imposed on Noticee under Section 15C of SEBI Act for non-redressal of investor complaints; Noticee not held guilty under Section 15A(a).

Provisions invoked

Parties

Holding

The Noticee was held liable for penalty of Rs. 4,00,000 under Section 15C of the SEBI Act for failure to redress investor grievances within the time specified by SEBI. However, the Noticee was not held guilty under Section 15A(a) as that provision requires contravention of the Act, rules or regulations, and does not extend to directions issued through circulars.

Full text

__________________________________________________________________________________ Adjudication Order in respect of Ankit Yarns Ltd., Page 2 of 10

__________________________________________________________________________________ Adjudication Order in respect of Ankit Yarns Ltd., Page 3 of 10

__________________________________________________________________________________ Adjudication Order in respect of Ankit Yarns Ltd., Page 4 of 10

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Source: SecMarx — sebi:EAD/BJD/NJMR/3/2017-18. 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.