sebi:EAD-12/AO/SM/254/2017-18
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Facts / Headnote
Penalty imposed on Noticee for failure to obtain SCORES authentication
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Parties
- Sparkle Foods Ltd
Holding
The Noticee, Sparkle Foods Ltd, violated SEBI circulars dated June 3, 2011, August 13, 2012, April 17, 2013 and December 18, 2014 by failing to obtain SCORES authentication, and a penalty of Rs. 1,00,000/- was imposed under Section 15HB of the SEBI Act, 1992.
Full text
In the matter of Sparkle Foods Ltd Page 2 of 7 shall be deemed to have been done or taken or commenced under the provisions of SEBI Consolidated Circular. SEBI Observed that the Noticee had failed to comply with the said directions of the SEBI Consolidated Circular.
In the matter of Sparkle Foods Ltd Page 3 of 7 last known address of the Noticee to appear for personal hearing on August 22, 2017 and since the same could not be delivered, the hearing notice was affixed at the last known address of the Noticee on July 27, 2017 as per Rule 7(c ) of the Rules. 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 Sparkle Foods 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, 2014?
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Source: SecMarx — sebi:EAD-12/AO/SM/254/2017-18. 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.