sebi:ORDER/MS/SB/2018-19/1605

SEBI · SEBI · 2016-01-27 · S. Manjesh Roy, Adjudicating Officer

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Facts / Headnote

Penalty imposed on noticee for failure to obtain SCORES authentication

Provisions invoked

• s. 15
• s. 15J

Parties

• P M Commercial Co Ltd.

Holding

The noticee, P M Commercial Co Ltd., failed to obtain SCORES authentication within the stipulated timeline of September 14, 2012 and thereafter, thereby violating SEBI circulars, and is liable for a penalty of Rs. 5,00,000/- under Section 15 HB of the SEBI Act.

Full text

2 | P a g e Rules) to enquire into and adjudge under section 15 HB of SEBI Act the alleged non- compliance 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,

3 | P a g e a. Whether the noticee has failed to obtain SCORES authentication, thereby failed to comply with the cited 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?

4 | P a g e rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees (emphasis supplied).

Source: SecMarx — sebi:ORDER/MS/SB/2018-19/1605. 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.