sebi:ORDER/SR/PS/2018-19/1408
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15C
Parties
- Ambuja Electrocastings Ltd.
Holding
Ambuja Electrocastings Ltd. failed to obtain SCORES authentication in violation of the cited SEBI circulars and is liable under Section 15HB of the SEBI Act; a penalty of Rs. 5,00,000 was imposed.
Full text
Page 2 of 7 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 4. A Show Cause Notice dated September 1, 2017, (herein after referred to as “SCN”) was issued to the noticee under Rule 4 (1) of the Rules, calling it to show cause as to why an inquiry should not be held against it in terms of Rule 4 of the Rules, read with section 15- I of SEBI Act and penalty be not imposed on it under Section 15HB of SEBI Act for its alleged non-compliance to provisions of cited circulars. The SCN was despatched through Speed Post with Acknowledgement Due (hereinafter, SPAD) to the address of registered office of the noticee as available in the Portal of the Ministry of Corporate Affairs (hereinafter, MCA), however the same returned undelivered with the endorsement “left”.
Page 3 of 7 d. 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?
Page 4 of 7 companies to redress investor grievances in SCORES within 30 days, thereby enabling SEBI to impose penalty u/s 15 C of SEBI Act in case of their failure to do so. Further, SEBI circular No. 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.
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Source: SecMarx — sebi:ORDER/SR/PS/2018-19/1408. 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.