sebi:Order/AA/AR/2019-20/5568
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Facts / Headnote
Show Cause Notice dated March 02, 2015 disposed of without imposing any penalty
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15C
Parties
- Aircommand Airtechnics Limited
Holding
The Adjudicating Officer disposed of the SCN dated March 02, 2015 against Aircommand Airtechnics Limited without imposing any penalty, finding that all 17 investor complaints had been dealt with and none remained pending.
Full text
Adjudication order in the matter of Non redressal of Investor Grievances Page 2 of 7 2. SEBI also observed that, prima facie, the Noticee had failed to redress six (6) investor complaints within the stipulated time and file ATRs in respect of such pending complaints. In view of the same, SEBI has initiated adjudication proceedings under Sections 15A(a) and 15C of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’) against the Noticee.
Adjudication order in the matter of Non redressal of Investor Grievances Page 3 of 7 a) It is noted that 6 complaints are still pending against you in SCORES. The earliest complaint is pending since 2012. It is therefore alleged that despite being called upon to do so you have failed to redress pending investor grievance within the time specified by the Board and also falied to furnish the Action Taken Report (ATR) resulting in violation of Section 15A(a) and 15C of the SEBI Act, 1992. b) The alleged failure to furnish ATR and non-redressal of investor grievances, if proved makes you liable for penalty under Sections 15A(a) and 15C of the SEBI Act respectively.
Adjudication order in the matter of Non redressal of Investor Grievances Page 4 of 7 the Noticee in its aforesaid reply letter are given below: a) It is alleged in the SCN that we did not redress the investor's complain and as on date of SCN, 6 complains were pending in SCORES against the Company. In this regard, we submit as under: b) As on 08.13,2019, there is no complain which is pending against us. We have solved each and every complaint registered against on SCORES c) We have in total received 15 complaints out of which we have sorted each and every complaint. There is not a single complaint which is unresolved. d) It is pertinent to not that as on date there is no complaint pending against the Company. Further, since more than last two years there has not been & single complaint which has been filed against us.
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Source: SecMarx — sebi:Order/AA/AR/2019-20/5568. 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.