sebi:EAD/PM-RR/AO/2019-2020/4583
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
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Kshitish Trading Co Ltd.
Holding
The Adjudicating Officer held Kshitish Trading Co Ltd. liable under Section 15HB of the SEBI Act, 1992 for failure to obtain SCORES authentication in violation of SEBI circulars and imposed a monetary penalty of Rs 1,00,000.
Full text
Adjudication Order in respect of Kshitish Trading Co Ltd. for failure to obtain SCORES Authentication Page 2 | 7 3. Subsequently, SEBI, vide letter dated December 02, 2013, advised the Noticee, to obtain the SCORES user Id and Password latest by December 18, 2013 failing which SEBI would be constrained to initiate enforcement actions as per SEBI Act, 1992, as deemed appropriate.
Adjudication Order in respect of Kshitish Trading Co Ltd. for failure to obtain SCORES Authentication Page 3 | 7 authentication. As no reply from the Noticee was received, vide letters dated October 26, 2016 and November 22, 2016, reminders were sent to the Noticee.
Adjudication Order in respect of Kshitish Trading Co Ltd. for failure to obtain SCORES Authentication Page 4 | 7 II. Whether the Noticee is liable for monetary penalty under Section 15HB of the SEBI Act?
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Source: SecMarx — sebi:EAD/PM-RR/AO/2019-2020/4583. 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.