sebi:Order/KS/AE/2020-21/9198
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Facts / Headnote
SCN disposed of with no penalty under Section 15C
Provisions invoked
- s. 15
- s. 15I
- s. 15C
Parties
- New India Retailing & Investment Limited
Holding
The SCN issued to New India Retailing & Investment Limited for failure to redress investor complaint No. SEBIP/WB15/0000555/1 was disposed of without imposing any penalty under Section 15C of the SEBI Act.
Full text
Page 2 of 10 SCORES registration no. SEBIP/WB15/0000555/1 pending against it regarding deletion of names, issue of duplicate shares and non-payment of dividend and thus has allegedly violated the provisions of Section 15C of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as 'SEBI Act').
Page 3 of 10 (b) It was however observed that till July 05, 2016 i.e. the date of Action History in SCORES, the Noticee had not submitted the ATR in SCORES and not redressed the aforesaid investor complaint. It was alleged in the SCN that the Noticee has failed to submit ATR within 30 days of date of receipt of the complaint and also failed to resolve the complaint in accordance with the SEBI Circular no CIR/OIAE/1/2014 dated December 18, 2014.
Page 4 of 10 complaint in a timely manner are as follows: a. We were not provided with the complete information in relation to the complaint, which made it difficult for us to resolve the complaint. Further, at the time of filing of the complaint, the complainant had requested for issuance of duplicate share certificates. However, subsequently, the complainant changed the request to change of names in the share certificates and not issuance of duplicate share certificates; and
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Source: SecMarx — sebi:Order/KS/AE/2020-21/9198. 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.