sebi:Order/MC/DPS/2019-20/4614

SEBI · SEBI · 2013-05-20 · Maninder Cheema, 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 Noticee under Section 15C of the SEBI Act

Provisions invoked

• s. 15A
• s. 15
• s. 15I
• s. 15J
• s. 15C

Parties

• Toheal Pharmachem Limited (Now known as Madhuveer Com 18 Network Ltd)

Holding

The Noticee failed to redress investor grievances in a timely manner and thereby violated SEBI Circulars No. CIR/OIAE/2/2011, CIR/OIAE/1/2012 and CIR/OIAE/1/2013, and a penalty of Rs. 3,00,000/- was imposed under Section 15C of the SEBI Act.

Full text

Adjudication Order in respect of Toheal Pharmachem Limited Page 2 of 10 yet to obtain SCORES user ID and password, were required to submit the details for authentication to SEBI, in the format annexed to the said Circular.

Adjudication Order in respect of Toheal Pharmachem Limited Page 3 of 10 5. Vide Order dated January 8, 2019, the undersigned was appointed as Adjudicating Officer in the instant matter. SHOW CAUSE NOTICE, REPLY AND HEARING

Adjudication Order in respect of Toheal Pharmachem Limited Page 4 of 10 Issue No. I Whether the Noticee has failed to comply with SEBI Circulars No. CIR/OIAE/2/2011 dated June 03, 2011, CIR/OIAE/1/2012 dated August 13, 2012 and CIR/OIAE/1/2013 dated April 17, 2013.? Issue No. II If yes, whether Noticee is liable for imposition of monetary penalty under Section 15A(a) and 15C of SEBI Act? Issue No. III If yes, what would be the monetary penalty that can be imposed upon the Noticee taking into consideration the factors stipulated in Section 15J of the SEBI Act read with Rule 5(2) of the Adjudication Rules?

Source: SecMarx — sebi:Order/MC/DPS/2019-20/4614. 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.