sebi:EAD/SR/VV/AO/15/2017-18
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Facts / Headnote
Adjudication Proceedings against Intech International Limited disposed of without imposing any monetary penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15C
- s. 248
- s. 248(1)
- s. 455
Parties
- Intech International Limited
Holding
The allegations regarding violation of SEBI Circulars on SCORES authentication and section 15C of the SEBI Act, 1992 do not stand established, and the adjudication proceedings initiated vide Show Cause Notice dated January 13, 2016 are disposed of without imposing any monetary penalty.
Full text
Adjudication Order in respect of Intech International Limited Page 2 of 6 in the matter of failure to obtain SCORES authentication and failure to redress investor grievances
Adjudication Order in respect of Intech International Limited Page 3 of 6 in the matter of failure to obtain SCORES authentication and failure to redress investor grievances the Adjudication Rules read with section 15-I of the SEBI Act, 1992 and why penalty be not imposed under section 15HB and section 15C of the SEBI Act, 1992 for the alleged violation of provisions of the SEBI Circulars and failure to redress grievances. The SCN was sent to the Noticee at SF-III, Unit No 93, Seepz Andheri East, Mumbai 400 090 by hand delivery, which remain undelivered as seen from records. A notice of hearing was sent vide letter No. EAD/PJ/VRP/3923/2016 dated February 15, 2016 to the aforementioned address via speed post with acknowledgement due(SPAD), which returned undelivered with remarks, 'no such consignee' and 'entry not allowed'. Delivery report of hearing notice is on record. A corrigendum to SCN was issued vide letter no EAD/PJ/VRP/OW/5547/2016 dated February 26, 2016 through SPAD, which returned undelivered with remarks, 'not known'.
Adjudication Order in respect of Intech International Limited Page 4 of 6 in the matter of failure to obtain SCORES authentication and failure to redress investor grievances liable to a penalty which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees.
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Source: SecMarx — sebi:EAD/SR/VV/AO/15/2017-18. 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.