sebi:OIAE/SRL/AO/DRK-DS/EAD3-421/87-2013
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Facts / Headnote
No violation established; proceedings disposed without penalty
Provisions invoked
- s. 24
- s. 15C
Parties
- Sikozy Realtors Ltd.
Holding
The alleged violation of Section 15C of the SEBI Act by the noticee could not be established and no penalty was imposed.
Full text
Page 2 of 7 SHOW CAUSE NOTICE, HEARING AND REPLY 3. A Show Cause Notice no. A&E/EAD-3/DRK-DS/19275/2013 dated August 02, 2013 (hereinafter referred to as 'SCN') was served on the noticee in terms of the provisions of Rule 4 of the Rules, requiring the noticee to show cause as to why an inquiry should not be held against the noticee and why penalty, if any, should not be imposed on it for the alleged violation of the provision of Section 15C of the SEBI Act.
Page 3 of 7 SEBI in writing to do so. Further, it is observed that as on May 24, 2013 there were 6 investor grievances pending against the noticee for redressal for more than two years.
Page 4 of 7 e. Finally SCORES updated as resolved but it took 2 years time, in this case you can verify that we were waiting for the information and because of that it took more than 2 years to resolve. f. We have updated the ATR on SCORES immediately, once it was guided by your official. Between 1st notice in January and 3rd notice in March we had resolved 8 complaints out of 17. Balance 9 were not resolved in the said period due to reasons mentioned above. g. As we had initiated necessary steps to resolve all the complaints in reasonable time, those complaints which were pending for the reasons beyond our control.
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Source: SecMarx — sebi:OIAE/SRL/AO/DRK-DS/EAD3-421/87-2013. 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.