sebi:EAD/SR/VV/AO/37/2017-18
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Facts / Headnote
Disposed without imposing any monetary penalty
Provisions invoked
- s. 15
- s. 15C
Parties
- Ambitious Plastomac Company Limited
Holding
The adjudication proceedings against Ambitious Plastomac Company Limited initiated vide Show Cause Notice dated April 29, 2016 were disposed without imposing any monetary penalty.
Full text
Adjudication Order in respect of Ambitious Plastomac Company Limited Page 2 of 6 in the matter of failure to redress an investor grievance or taken or commenced under the provisions of circular dated December 18, 2014. The aforementioned circulars are hereinafter collectively referred to as the “SEBI Circulars".
Adjudication Order in respect of Ambitious Plastomac Company Limited Page 3 of 6 in the matter of failure to redress an investor grievance of the said SCN sent by email is on record. In this regard, the Noticee sent a reply by email dated May 16, 2016 (sender email id: kpsompura356@gmail.com) giving details of the reply sent to SEBI regarding the said complaint. An opportunity of hearing was granted to the Noticee vide notice no. EAD/NP/JR/OW/5385/1/2016 dated March 10, 2017 for a hearing scheduled on March 20, 2017. The said hearing notice was sent by Hand Delivery which returned undelivered as seen from the undelivered envelope. The said hearing notice was also issued via email (recipient id kpsompura356@gmail.com). Delivery report is not on record. In addition to this email communication, the said hearing notice was served by affixture on March 23, 2017 at the last known address 608, Gold Crest Business Centre, L T Road, Opp. Manubhai jewelers, Borivali(W), Mumbai – 400
Adjudication Order in respect of Ambitious Plastomac Company Limited Page 4 of 6 in the matter of failure to redress an investor grievance shareholder does not have the original shares. Noticee also informed that Noticee has sent various documents for signature of the complainant and upon receipt of the said documents will issue duplicate shares and also complete balance procedure for transfer of share and final payment. Further the entire procedure got delayed because complainant was out of station for a long time. c. Noticee vide letter dated August 5, 2015 informed the complainant that the Noticee has decided to make payment towards 1000 equity shares of the complainant at Rs. 1.75 and Demand Draft no. 000067 (DD) dated June 23, 2015 drawn on HDFC Bank Limited is enclosed alongwith share transfer form. Copy of the said letter was marked to the OD of SEBI. d. Noticee attached a copy of indemnity bond etc signed by the complainant. e. Notice attached letter dated July 11, 2016 received from HDFC Bank Limited confirming that the said DD has been paid on August 21, 2015.
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Source: SecMarx — sebi:EAD/SR/VV/AO/37/2017-18. 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.