sebi:ORDER/SR/SB/2017-18/1146
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Facts / Headnote
Penalty imposed on the Noticee under Section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
Parties
- Nathmall Giridharilall Steels Limited
Holding
The Noticee was held liable for failure to obtain SCORES authentication within the prescribed timeline, constituting a violation of SEBI Circular No. CIR/OIAE/1/2013, and a penalty of Rs. 50,000 was imposed under Section 15HB of the SEBI Act.
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 CONSIDERATION OF ISSUES AND FINDINGS 9. I have examined the material available on records and the issues that arise for consideration in the present case are: 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 15 J of the SEBI Act?
Page 4 of 6 15C - Penalty for failure to redress investors’ grievances If any listed company or any person who is registered as an intermediary, after having been called upon by the Board in writing, to redress the grievances of investors, fails to redress such grievances 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/SB/2017-18/1146. 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.