sebi:ORDER/MS/SS/2017-18/1484

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

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Facts / Headnote

Penalty of Rs. 5,00,000 imposed under Section 15HB of SEBI Act

Provisions invoked

• s. 15
• s. 15J

Parties

• Crescent Exports Ltd.

Holding

Crescent Exports Ltd., a listed company, failed to obtain SCORES authentication in violation of SEBI circulars and is liable for penalty under Section 15HB of the SEBI Act, and a penalty of Rs. 5,00,000 is imposed.

Full text

2 | P a g e (hereinafter, 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, 2016.

3 | P a g e 7. While recording my findings, it is pertinent to have a brief narration on SCORES and its applicable circulars.

4 | P a g e CIR/OIAE/1/2014 dated December 18, 2014, inter-alia, extended SCORES platform to specified intermediaries, and also called upon ‘newly listed companies’ to redress investors’ grievances through this portal. Also, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, notified on September 02, 2015 and came into force 90 days thereafter, subsumed the September 2012 circular.

Source: SecMarx — sebi:ORDER/MS/SS/2017-18/1484. 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.