sebi:ORDER/SR/CM/2017-18/1090
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Facts / Headnote
Proceedings disposed of without imposing penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Prudential Investment Ltd. (formerly S.C. Trading Co. Ltd.)
Holding
The Noticee failed to obtain SCORES authentication within the timeline specified by SEBI Circular dated August 13, 2012 (September 14, 2012), but the Adjudicating Officer found it not a fit case to impose penalty under Section 15HB of the SEBI Act.
Full text
Page 2 of 5 ORDER/SR/CM/2017-18/1090 the alleged violation of 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 5 ORDER/SR/CM/2017-18/1090 a. Whether the Noticee has failed to obtain SCORES authentication, thereby failed to comply with SEBI Circular No. CIR/OIAE/1/2013 dated April 17, 2013 ? 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 5 ORDER/SR/CM/2017-18/1090 within the time specified by the Board, such company or intermediary shall be liable to a penalty which shall not be less than one lakh 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.
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Source: SecMarx — sebi:ORDER/SR/CM/2017-18/1090. 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.