sebi:ORDER/BD/VS/2019-20/4679

SEBI · SEBI · 2016-03-28 · B J Dilip, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Penalty of Rs. 1,00,000 imposed under Section 15HB of the SEBI Act, 1992

Provisions invoked

• s. 15
• s. 15H
• s. 15I
• s. 15J
• s. 28A

Parties

• M/s HMP Cements Limited
• M/s Global Cements Limited

Holding

The Noticee violated SEBI Circular No. CIR/OIAE/1/2013 dated April 17, 2013 by failing to obtain SCORES authentication within 30 days and is liable for monetary penalty under Section 15HB of the SEBI Act, 1992. A penalty of Rs. 1,00,000 was imposed on M/s Global Cements Limited (previously known as M/s HMP Cements Limited).

Full text

Adjudication Order in respect of M/s HMP Cements Limited Page 2 of 12 of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act, 1992”).

Adjudication Order in respect of M/s HMP Cements Limited Page 3 of 12 “With reference to above mentioned caption, we would like to draw your kind attention to the fact that pursuant to SEBI Circular No. CIR/OIAE/2/2011 dated June 3, 2011, we have submitted Form for Authentication of Scores vide letter dated 28/03/2016, copy of which is enclosed herewith for ready reference. Accordingly, we have received Scores User ID and Password for redressal of investor complaints.

Adjudication Order in respect of M/s HMP Cements Limited Page 4 of 12 reiterate the submission made vide their replies dated March 18, 2016 and March 28, 2016. However, the Noticee also stated that the contention of the Noticee that user ID and password was already obtained in the year 2011 was made erroneously and sought to withdraw the same and requested that the said submission should not be considered for the purpose of extant proceedings. The AR further submitted that the Noticee had already obtained the Scores authentication and sought 7 days time to submit the specific details along with the documentary evidence of the same. The request of the Noticee was acceded and the hearing proceedings was concluded therewith.

Source: SecMarx — sebi:ORDER/BD/VS/2019-20/4679. 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.