sebi:EAD-2/DSR/VS/901/2018
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Facts / Headnote
Penalty imposed on Noticee under Section 15HB of SEBI Act; violation of Section 15C charge not tenable
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 15C
Parties
- Numero Uno Projects Limited
Holding
The Noticee violated SEBI Circulars by failing to obtain SCORES authentication, attracting penalty under Section 15HB of the SEBI Act, but the charge under Section 15C was not tenable as the precondition of being called upon in writing by the Board was unfulfilled. A monetary penalty of Rs. 1,00,000 was imposed under Section 15HB.
Full text
______________________________________________________________________________________ Page 2 of 7 earlier Circulars / directions. The said Circular dated December 18, 2014 further, inter alia, stated that failure by any listed company to obtain SCORES authentication would not only be deemed as non-redressal of investor grievances, but, also indicate wilful avoidance of the same. The aforementioned SEBI Circulars are hereinafter collectively referred to as the “SEBI Circulars".
______________________________________________________________________________________ Page 3 of 7 Noticee. The said SCN was sent at the last known address of the Noticee through Postal Department, which was, however, returned undelivered. Therefore, in terms of Rule 7(c) of Adjudication Rules, the SCN was affixed at the last known address of the Noticee. In the said SCN, the Noticee was asked to reply within a period of 10 days. However, no reply was received from the Noticee.
______________________________________________________________________________________ Page 4 of 7 c. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in Section 15J of the SEBI Act?
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Source: SecMarx — sebi:EAD-2/DSR/VS/901/2018. 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.