sebi:Order/AK/VG/2017-18/1220
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Facts / Headnote
Penalty of Rs. 8,00,000 imposed on the Noticee under Section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Parties
- Ruia Aquaculture Farms Ltd
Holding
The Noticee violated SEBI SCORES Circulars by obtaining SCORES authentication only in April 2016, nearly four years after the September 14, 2012 deadline, and is liable for monetary penalty under Section 15HB of the SEBI Act, with a penalty of Rs. 8,00,000 imposed.
Full text
Adjudication Order in the matter of Ruia Aquaculture Fams Ltd. Page 2 of 10 3. It was, therefore, alleged that the Noticee has failed to obtain SCORES authentication and thereby violated the SEBI Circulars, thus, making the Noticee liable for imposition of penalty under Section 15HB of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "the SEBI Act").
Adjudication Order in the matter of Ruia Aquaculture Fams Ltd. Page 3 of 10 obtaining SCORES authentication as well as the email/ letter from SEBI confirming the SCORES authentication and giving the Login ID and password. The AR was advised to submit the same, along with written submissions, if any, latest by August 28, 2017. The AR also confirmed that there was no past compliance of SEBI Act and Regulations by the Noticee and no action was taken by SEBI in the past against the Noticee.
Adjudication Order in the matter of Ruia Aquaculture Fams Ltd. Page 4 of 10 c) If so, what would be the monetary penalty that can be imposed duly taking into account the factors mentioned in Section 15J of SEBI Act?
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Source: SecMarx — sebi:Order/AK/VG/2017-18/1220. 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.