sebi:ORDER/MS/CM/2018-19/344
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Facts / Headnote
Penalty imposed on noticee under Section 15HB of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Sumati Projects Ltd
Holding
The noticee Sumati Projects Ltd failed to obtain SCORES authentication within the stipulated timeline of September 14, 2012, and is liable for penalty under Section 15HB of the SEBI Act. A penalty of Rs. 50,000/- was imposed for insufficient compliance.
Full text
Page 2 of 6 ORDER/MS/CM/2018-19/344 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/2018-19/344 a. Whether the noticee has failed to obtain SCORES authentication, thereby failed to comply with SEBI Circulars? b. Does the violation, if any, on the part of the noticee attract monetary penalty under Section 15 HB of the SEBI Act? c. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in Section 15J of the SEBI Act?
Page 4 of 6 ORDER/MS/CM/2018-19/344 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/2018-19/344. 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.