sebi:Order/GR/KG/2019-20/6368
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Facts / Headnote
Penalty imposed on the Noticee for failure to obtain SCORES authentication and failure to redress investor grievances
Provisions invoked
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15H
- s. 15F
- s. 28A
- s. 15C
Parties
- Shreeji Phosphate Limited
Holding
The Noticee failed to obtain SCORES authentication within the stipulated timeline of September 14, 2012 and failed to redress investor grievances, rendering it liable for penalty under sections 15HB and 15C of the SEBI Act respectively. A penalty of Rs. 1,00,000/- under Section 15HB and Rs. 1,00,000/- under Section 15C, totaling Rs. 2,00,000/-, was imposed.
Full text
Page 2 of 11 Adjudication Order against Shreeji Phosphate Limited therein and to submit the Action Taken Reports duly supported by documentary evidence in respect of the pending complaints, within the timelines stipulated by SEBI, therefore not complying with the aforesaid SEBI Circulars.
Page 3 of 11 Adjudication Order against Shreeji Phosphate Limited submit the Action Taken report, respectively. The SCN had returned undelivered from the address of the Noticee, which was obtained from the MCA portal. Thereafter, attempt was made to affix the SCN at the address of the Noticee on August 4, 2014. However, it is observed from the records that it could not be affixed since the Noticee was not available at the address and the then occupants at the same address did not allow such affixure. Thereafter, subsequent to the transfer of the proceedings to the undersigned, an opportunity of personal hearing was granted to the Noticee on December 13, 2019 vide publication dated December 8, 2019 in national and vernacular dailies. It was inter alia mentioned in the said notice that if the Noticee failed to appear before the Adjudicating officer on the said date and time, then the matter shall be proceeded with on the basis of the material available on record. Despite the same, no response has been received from the Noticee till date.
Page 4 of 11 Adjudication Order against Shreeji Phosphate Limited 6. Given the aforesaid, I proceed in the matter on the basis of the material available on records and the issues that arise for consideration in the present case are:
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Source: SecMarx — sebi:Order/GR/KG/2019-20/6368. 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.