sebi:ORDER/MS/SS/2017-18/1483

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

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty of Rs. 60,000 imposed under Section 15HB of the SEBI Act for insufficient/delayed SCORES authentication compliance.

Provisions invoked

• s. 15

Regulations relied on

• SEBI (LODR) Regulations, 2015

Parties

• Drapers India Ltd.

Holding

The noticee failed to obtain SCORES authentication by the stipulated deadline of September 14, 2012, complying only on March 25, 2015, which constitutes insufficient compliance liable to penalty under Section 15HB of the SEBI Act. A penalty of Rs. 60,000 was imposed on Drapers India Ltd.

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 his 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 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 15 J of the SEBI Act?

4 | P a g e 10. Redressal of investor grievances in SCORES is distinct from obtaining authentication; and failure of the former attracts monetary penalty u/s 15 C of SEBI Act, which reads as follows:

Source: SecMarx — sebi:ORDER/MS/SS/2017-18/1483. 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.