sebi:NP/JR/37/2017

SEBI · SEBI · 2016-08-22 · Nagendraa Parakh, Adjudicating Officer

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

Facts / Headnote

SCN disposed of without penalty - no violation found

Provisions invoked

Parties

Holding

The SCN against Kilitch Drugs (India) Limited was disposed of without penalty. The Noticee was held not to have violated SEBI Circular No. CIR/OIAE/1/2014 dated December 18, 2014.

Full text

Page 2 of 8 by SEBI to do so thereby violated the provisions Section 15C of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).

Page 3 of 8 shares held by her in physical form upto 15.06.2010 and also holding cumtransaction statement for shares held in demat mode as on record date 22/08/2011 & 25/09/2012 in respect to dividend declared by Kilitch Drugs (India) Ltd. in the year 2011 & 2012. Further, the said complainant had also not specified for which year(s) the dividend was not received by her in physical form and holding cumtransaction statement for shares held in demat mode which shall help us to find out complete dividend data of the said complainant. … However, you may kindly note that till date we have not received any details/ information from the said complainant that was requested from her.”

Page 4 of 8 9. The issues that, therefore, arise for consideration in the present case are: 9.1. Whether the Noticee has failed to resolve the investor complaint with in the specified time, thereby failing to comply with SEBI Circular No. CIR/OIAE/1/2014 dated December 18, 2014? 9.2. Does the violation, if any, attract monetary penalty under Section 15C of SEBI Act? 9.3. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in Section 15J of SEBI Act?

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Source: SecMarx — sebi:NP/JR/37/2017. 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.