sebi:Order/GR/AE/2019-20/6317
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed under Section 15C and Section 15HB of the SEBI Act
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 15C
Parties
- Shalibhadra Infosec Limited
Holding
The Noticee failed to obtain SCORES authentication, redress ten pending investor grievances and file Action Taken Report within stipulated timelines, thereby violating SEBI Circulars dated June 03, 2011, August 13, 2012 and April 17, 2013, and was held liable for penalty of Rs. 2,00,000 under Section 15C and Section 15HB of the SEBI Act.
Full text
Adjudication Order in respect of Shalibhadra Infosec Limited Page 2 of 11 supported by documentary evidence in respect of the pending complaints, within the timelines stipulated by SEBI, therefore not complying with the aforesaid SEBI Circulars.
Adjudication Order in respect of Shalibhadra Infosec Limited Page 3 of 11 personal hearing on December 13, 2019 vide Hearing Notice dated November 22, 2019 through newspaper publications on December 08, 2018 in (i) one English daily newspaper and (ii) one Hindi daily newspaper having nationwide circulation and (iii) another in a newspaper having wide circulation published in the language of the region where the Noticee was last known to have resided or carried on business or personally worked for gain. However, the Noticee neither appeared for the said hearing nor submitted any reply to the SCN/Hearing Notice. It is pertinent to mention here that vide the aforesaid notice it was clearly indicated that in case of failure to submit reply, the case would be proceeded with ex-parte on the basis of the material available on record.
Adjudication Order in respect of Shalibhadra Infosec Limited Page 4 of 11 proceedings and, therefore, appellants are presumed to have admitted charges leveled against them in the show cause notices...”
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Source: SecMarx — sebi:Order/GR/AE/2019-20/6317. 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.