sebi:ORDER/AO/GR/KG/2019-20/4540
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15F
- s. 28A
- s. 15C
Parties
- Neelkanth Motels & Hotels Limited
Holding
The Noticee was held to have violated SEBI circulars dated August 13, 2012 and April 17, 2013 by failing to obtain SCORES authentication within the stipulated timeline and failing to redress investor grievances and file Action Taken Report. A total penalty of Rs. 2,00,000 was imposed, comprising Rs. 1,00,000 under Section 15HB and Rs. 1,00,000 under Section 15C of the SEBI Act.
Full text
Page 2 of 8 Adjudication Order against Neelkanth Motels & Hotels Limited Exchange Board of India Act, 1992, (hereinafter, SEBI Act) and under Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter, Rules) to enquire into and adjudge under section 15HB and section 15C of the SEBI Act, for the alleged violation of cited Circulars by the Noticee. Earlier, the case was assigned to Shri Sudip Mishra, General Manager, Shri Anindhya Kumar Das, General Manager and Shri Achal Singh, General Manager. I therefore proceed in the matter from where it had been left by the previous Adjudicating Officer.
Page 3 of 8 Adjudication Order against Neelkanth Motels & Hotels Limited a. Whether the Noticee had failed to obtain SCORES authentication and also to redress the grievance(s) of investor(s) and to file an Action Taken Report thereupon, thereby failed to comply with SEBI circulars dated August 13, 2012 and April 17, 2013?
Page 4 of 8 Adjudication Order against Neelkanth Motels & Hotels Limited 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:ORDER/AO/GR/KG/2019-20/4540. 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.