sebi:ORDER/SR/SB/2017-18/1099
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Facts / Headnote
Penalty imposed on Noticee for failure to obtain SCORES authentication within stipulated timeline
Provisions invoked
- s. 15
- s. 15H
Parties
- Raghunath Prasad Phoolchand Limited
Holding
The Noticee failed to obtain SCORES authentication within the timeline specified in SEBI circulars, constituting a default attracting penalty under Section 15HB of the SEBI Act, and a penalty of Rs. 50,000 was imposed.
Full text
Page 2 of 6 1995 (hereinafter, Rules) to enquire into and adjudge under section 15HB of SEBI Act 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 6 8. While recording my finding, it is pertinent to have a brief narration on SCORES and its applicable circulars.
Page 4 of 6 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/SB/2017-18/1099. 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.