sebi:EAD-2/AO/72/2012

SEBI · SEBI · 2011-06-03 · P K Kuriachen, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty of Rs 10,000 imposed under Section 15A(a); no penalty under Section 15C

Provisions invoked

• s. 15A
• s. 15
• s. 15J
• s. 15C

Holding

The Noticee was held liable under Section 15A(a) for failure to timely furnish ATR and SCORES authentication and penalized Rs 10,000, but not liable under Section 15C as investor grievances were redressed or were invalid.

Full text

Page 2 of 7 provided the list of the said complaints to the Noticee as an enclosure to the said letter. The Noticee was advised to redress the said pending grievances and was also advised to submit a letter from BSE and other stock exchanges on which the shares of the Noticee were listed stating the status of the investor grievances. However, the Noticee did not redress the investor grievances, failed to submit the ATR and letters from the stock exchanges. Further, with reference to the SEBI Circular No. CIR/OIAE/2/2011 dated June 03, 2011, SEBI vide its letter dated October 11, 2011 and November 22, 2011 advised the Noticee to forward information as required under Point No. 04 of the said circular and also to send the scanned copy / soft copy of the authentication to scores@sebi.gov.in and sebiwro@sebi.gov.in. However, the Noticee failed to comply with the same.

Page 3 of 7 cause as to why an inquiry should not be held against it for the alleged violations as mentioned in Para 2 and 3 above.

Page 4 of 7 (a) to furnish any document, return or report to the Board, fails to furnish the same, he shall be liable to a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less;

Source: SecMarx — sebi:EAD-2/AO/72/2012. 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.