sebi:OIAE/EAD-3/AO/DRK-VB/-729/54-2015
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; consolidated penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15C
Parties
- Rajasthan Polyvin Tubes Ltd.
Holding
The noticee violated Section 15A(a) and Section 15C of the SEBI Act for failure to obtain SCORES authentication, submit ATR and redress investor grievances within the specified period. A consolidated penalty of Rs. 1,00,000 (Rs. 50,000 each under Section 15A(a) and Section 15C) was imposed on Rajasthan Polyvin Tubes Ltd.
Full text
Page 2 of 6 2013 by Speed Post Acknowledgement Due (hereinafter referred to as “SPAD”) to show cause as to why an inquiry be not held against the noticee and why
Page 3 of 6 a) The company is facing severe economical problems and thus unable to redress the investor grievances. The ARs have further submitted that the Registrar and Transfer Agent (RTA) of the company, SM Consultancy has closed down the business without handing over any papers to them. ARs have further submitted that the RTA did not inform the company about any investor complaint. The ARs have submitted that the company is trying to retrieve the records / papers from RTA, which is taking time and therefore have sought time till March 2014 to resolve all the investor complaints. b) The ARs have also submitted that the company has filed a case against Mandsaur Co-operative Bank, which closed down in the year 2003 for retrieving its fund and also against Rajasthan Government for not giving it subsidies as agreed upon. The ARs have undertaken to file a detailed reply with respect to same within 10 days.
Page 4 of 6 CONSIDERATION OF EVIDENCE AND FINDINGS 9. I have taken into consideration the facts and circumstances of the case and the material available on record.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:OIAE/EAD-3/AO/DRK-VB/-729/54-2015. 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.