sebi:EAD/KS/AA/AO/47/2017-18
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Facts / Headnote
Adjudication proceedings disposed without imposition of penalty
Provisions invoked
- s. 15
- s. 15H
- s. 4(2)
- s. 20
Parties
- All Metal Process Industries Limited
Holding
The adjudication proceedings initiated against All Metal Process Industries Limited vide SCN dated May 12, 2017 for failure to obtain SCORES authentication were disposed of without imposing any monetary penalty under Section 15HB of the SEBI Act.
Full text
Page 2 of 10 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of investor grievances, but also indicate wilful avoidance of the same and that failure to take action under the rescinded circulars before the date of issuance of SEBI Circular dated December 18, 2014, shall be deemed to have been done or taken or commenced under the provisions of SEBI Circular dated December 18, 2014.
Page 3 of 10 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 4. A Show Cause Notice dated May 12, 2017 (hereinafter referred to as ‘SCN’) was issued to the Noticee under Rule 4(1) of the Adjudication Rules to show cause as to why an inquiry should not be held against it in terms of Rule 4 of the Adjudication 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 circulars No. CIR/OIAE/2/2011 dated June 03, 2011, CIR/OIAE/1/2012 dated August 13, 2012, CIR/OIAE/1/2013 dated April 17, 2013 and CIR/OIAE/1/2014 dated December 18, 2014 by not obtaining SCORES authentication.
Page 4 of 10 letter and the Noticee was advised submit to its reply, if any, to the SCN within 15 days of the receipt of SCN. The aforesaid letter dated November 03, 2017 was sent to the following two addresses: (a) 295-300, Village Dhamane, Taluka Maval, Pune – 410506; and (b) 20/10, R. A. Kidwai Road, Angleland Building, 6th Floor, Wadala, Mumbai – 400031. However, the aforesaid letter could not be delivered at the either of the above addresses. Thereafter, the letter dated November 03, 2017 along with the copy of SCN was affixed at 20/10, R. A. Kidwai Road, Angleland Building, 6th Floor, Wadala, Mumbai –
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Source: SecMarx — sebi:EAD/KS/AA/AO/47/2017-18. 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.