sebi:Order/GR/RK/2020-21/9151

SEBI · SEBI · 2019-06-12 · G Ramar, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Penalty imposed on the Noticee for failure to redress investor grievances and failure to submit Action Taken Report

Provisions invoked

• s. 11B
• s. 11
• s. 15A
• s. 15
• s. 19
• s. 15J
• s. 15F
• s. 28A
• s. 15C

Parties

• Sequel E-Routers Limited

Holding

The Noticee, Sequel E-Routers Limited, was held liable for failing to redress investor grievances within the time stipulated under SEBI circulars and for failing to submit Action Taken Reports, attracting penalties under Sections 15A(a) and 15C of the SEBI Act totalling Rs. 2,00,000.

Full text

Adjudication Order in respect of Sequel E- Routers Limited Page 2 of 8 APPOINTMENT OF ADJUDICATING OFFICER 3. The undersigned was appointed as the AO vide order dated June 12, 2019, under Section 19 read with Section 15-I of Securities and Exchange Board of India, 1992 (hereinafter, “SEBI Act”) and under Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter, Rules) to enquire into and adjudge under Section 15A(a) and Section 15C of the SEBI Act, for the aforementioned alleged violations by the Noticee. Earlier, the case was assigned to Shri Anindhya Kumar Das, General Manager and Shri Achal Singh, General Manager. I therefore proceed in the matter from where it had been left by the previous Adjudicating Officer.

Adjudication Order in respect of Sequel E- Routers Limited Page 3 of 8 6. However, the Noticee did not appear for the said hearing and vide its email dated September 08, 2020, the Noticee submitted that there are no pending complaints against the Noticee.

Adjudication Order in respect of Sequel E- Routers Limited Page 4 of 8 SEBI by providing specified information to the latter (hereinafter, “SCORES authentication”). The foregoing was spelt out in the SEBI Circular No. CIR/OIAE/2/2011 dated June 03, 2011 which also provided the format in its annexure, for listed companies to provide information to the former to obtain authentication.

Source: SecMarx — sebi:Order/GR/RK/2020-21/9151. 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.