sebi:OIAE/EAD-3/AO/DRK-ASR/724/49-2015
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Facts / Headnote
Adjudication proceeding disposed of without penalty
Provisions invoked
- s. 15C
Parties
- Hotel Rugby Limited
Holding
The alleged violation of Section 15C of the SEBI Act, 1992 against Hotel Rugby Limited was held difficult to establish and the adjudication proceeding was accordingly disposed of without penalty.
Full text
Page 2 of 6 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING: 3. A Show Cause Notice No. A&E/EAD-3/DRK-VVK/18971/2013 dated July 30, 2013 (hereinafter referred to as “SCN”) was served upon the Noticee on August 05, 2013 by Hand Delivery Acknowledgment Due (hereinafter referred to as “HDAD”) under Rule 4(1) of the Adjudication Rules, to show cause as to why an inquiry should not be held against the Noticee and why penalty, if any, should not be imposed under Section 15C of the SEBI Act, for the alleged violation of non redressal of an investor grievance by the Noticee in SCORES. The complaint was received by SEBI from Shri S N Singh (hereinafter referred to as „the complainant / Singh‟) on October 05, 2010 for issuance of duplicate share certificates for 200 shares of HRL.
Page 3 of 6 fails to redress such grievances within the time specified by the Board, such company or intermediary 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.
Page 4 of 6 from the Noticee informing about its inability to appear at the scheduled time for the hearing. Thereafter, another letter dated April 26, 2014 was received from the Noticee on April 28, 2014. In the aforesaid letter, Noticee reiterated submissions made vide its reply dated August 09, 2013 and requested for appearance in the said matter to put up the matter before Adjudicating Officer personally.
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Source: SecMarx — sebi:OIAE/EAD-3/AO/DRK-ASR/724/49-2015. 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.