sebi:Order/AA/MG/2019-20/6283
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Facts / Headnote
Penalty imposed on the Noticee for failure to redress investor grievances and file ATR
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 15J
- s. 15F
- s. 28A
- s. 15C
- s. 15I(1)
Parties
- Saumya Capital Limited (formerly known as Arcadia Mercantile Capital Ltd.)
Holding
The Noticee, Saumya Capital Limited, violated SEBI Circulars CIR/OIAE/2/2011, CIR/OIAE/1/2012 and CIR/OIAE/1/2013 by failing to redress 15 pending investor grievances and failing to file ATR, and a penalty of Rs. 2,00,000/- was imposed under Sections 15A(a) and 15C of the SEBI Act.
Full text
_________________________________________________________________________________ In the matter of Saumya Capital Limited Page 2 of 10 (Formerly known as Arcadia Mercantile Capital Ltd.) 15C of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "SEBI Act") against the Noticee.
_________________________________________________________________________________ In the matter of Saumya Capital Limited Page 3 of 10 (Formerly known as Arcadia Mercantile Capital Ltd.) c) Therefore, it is alleged that the Noticee has failed to redress the pending investor grievances within time specified by the Board and failed to furnish ATR. The Noticee was advised to file its reply if any, within 14 days of receipt of the SCN.
_________________________________________________________________________________ In the matter of Saumya Capital Limited Page 4 of 10 (Formerly known as Arcadia Mercantile Capital Ltd.) the present proceedings against the Noticee are undertaken ex-parte on the basis of available documents and information.
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Source: SecMarx — sebi:Order/AA/MG/2019-20/6283. 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.