sebi:EAD-12/AO/SM/129/2017
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Facts / Headnote
Penalty imposed on the Noticee for failure to obtain SCORES authentication
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Parties
- M/s Shakti Rods and Wires Ltd
Holding
The Noticee, M/s Shakti Rods and Wires Ltd, violated SEBI Circulars requiring SCORES authentication by failing to obtain it, and a penalty of Rs. 1,00,000 was imposed under Section 15HB of the SEBI Act, 1992.
Full text
In the matter of M/s Shakti Rods and Wires Ltd Page 2 of 7 2. It was therefore, alleged that the Noticee had failed to obtain SCORES authentication and thereby violated SEBI Circular No. CIR/OIAE/1/2014 dated December 18, 2014, thus, making the Noticee liable for imposition of penalty under Section 15HB of SEBI Act, 1992.
In the matter of M/s Shakti Rods and Wires Ltd Page 3 of 7 The copies of the SCN and Hearing Notice were also uploaded on the website of SEBI under Unserved Summons/Notices www.sebi.gov.in. A Public Notice was also given in Times of India and Loksatta, Mumbai Edition, which was published on November 18, 2017 to appear for Personal Hearing on November 30, 2017. However, neither did the Noticee appear on the date scheduled for the personal hearing, nor has the Noticee filed any reply in the matter till date.
In the matter of M/s Shakti Rods and Wires Ltd Page 4 of 7 FINDINGS: Issue I: Whether the Noticee by failing to obtain SCORES authentication has violated the provisions of 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, 20?
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Source: SecMarx — sebi:EAD-12/AO/SM/129/2017. 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.