sebi:MS/CM/2018-19/1464

SEBI · SEBI · 2016-01-27 · S. Manjesh Roy, Adjudicating Officer

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Facts / Headnote

Penalty imposed on noticee for non-compliance with SEBI circulars regarding SCORES authentication

Provisions invoked

Parties

Holding

The noticee, Star Company Ltd., failed to obtain SCORES authentication within the prescribed timeline of September 14, 2012 and subsequently, thereby violating SEBI circular dated April 17, 2013, and a penalty of Rs. 5,00,000 was imposed under Section 15HB of the SEBI Act.

Full text

Adjudication Order against Star Company Ltd. Page 2 of 6 Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter, Rules) to enquire into and adjudge under section 15HB of SEBI Act the alleged violation of cited circulars by the noticee. Pursuant to her transfer, Shri P. Mahapatra was appointed as AO. Subsequent to his transfer, the undersigned was appointed as AO vide Order dated January 27, 2016.

Adjudication Order against Star Company Ltd. Page 3 of 6 exchange, was delivered by SPAD, but without mention of the date of delivery. There was no response from the noticee.

Adjudication Order against Star Company Ltd. Page 4 of 6 listed company / its Share Transfer Agent (hereinafter, STA), which in turn is required to redress the same and furnish the Action Taken Report (hereinafter, ATR) in electronic form. However, as a prerequisite to access SCORES portal, listed companies have to obtain user ID and login password from SEBIby providing specified information to the latter(hereinafter, SCORES authentication). The foregoing were spelt out in the SEBI Circular No. CIR/OIAE/2/2011 dated June 03, 2011 which also provided the format in its annexure, for listed companies to provide information to the former to obtain authentication.

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Source: SecMarx — sebi:MS/CM/2018-19/1464. 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.