sebi:ORDER/MS/CM/2018-19/1411
Facts / Headnote
Penalty of Rs. 2,00,000 imposed under Section 15HB of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Smart Trading & Investment Co Ltd
Holding
The noticee failed to obtain SCORES authentication by the stipulated deadline of September 14, 2012, achieving compliance only on December 27, 2017, and was held liable under Section 15HB of the SEBI Act. A penalty of Rs. 2,00,000 was imposed on Smart Trading & Investment Co Ltd.
Full text
Page 2 of 6 ORDER/MS/CM/2018-19/1411 alleged non-compliance to the cited circulars by the noticee. Pursuant to her transfer, Shri P. Mahapatra was appointed as AO. Subsequent to his transfer, the undersigned was appointed as AO vide Order dated January 27, 2016.
Page 3 of 6 ORDER/MS/CM/2018-19/1411 CONSIDERATION OF ISSUES AND FINDINGS 9. I have examined the material available on records and the issues that arise for consideration in the present case are:
Page 4 of 6 ORDER/MS/CM/2018-19/1411 15C - Penalty for failure to redress investors’ grievances If any listed company or any person who is registered as an intermediary, after having been called upon by the Board in writing, to redress the grievances of investors, fails to redress such grievances within the time specified by the Board, such company or intermediary shall be liable to a penalty which shall not be less than one lakhrupees but which may extend to onelakh rupees for each day during which such failure continues subject to a maximum of one crore rupees .
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Source: SecMarx — sebi:ORDER/MS/CM/2018-19/1411. 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.