sebi:Order/MC/DPS/2019-20/5635

SEBI · SEBI · 2012-11-09 · Maninder Cheema, Adjudicating Officer

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Facts / Headnote

Penalty of Rs 1,00,000 imposed under Section 15HB

Provisions invoked

• s. 15H
• s. 15I
• s. 15J
• s. 15
• s. 15C

Parties

• Span Dyestuff Industries Ltd

Holding

The Noticee violated SEBI SCORES authentication circulars but the charge of non-redressal of investor grievances was not established, and a penalty of Rs 1,00,000 under Section 15HB of the SEBI Act was imposed for failure to obtain SCORES authentication.

Full text

Adjudication Order in respect of Span Dyestuff Industries Ltd Page 2 of 10 Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter be referred to as the “Adjudication Rules”) vide order dated November 9, 2012, to inquire into, and adjudge under section 15C and 15HB of the SEBI Act, the alleged violations committed by the Noticee. Subsequently the matter was transferred from Shri Sudeep Mishra to Shri Achal Singh and then to Shri Anindya K Das vide communique dated June 22, 2015.

Adjudication Order in respect of Span Dyestuff Industries Ltd Page 3 of 10 of investor(s) and therefore, had failed to comply with the aforesaid SEBI Circulars.

Adjudication Order in respect of Span Dyestuff Industries Ltd Page 4 of 10 informed about the change of address to The Registrar of Companies. It apprehended that all the correspondences would have taken place at the above stated address and resultantly it had not received. It had not received any correspondence from the complainants namely i) Abhishek Nangalia or ii) Shailaja Pawar nor the show cause notice dated February 19, 2014 and June 14, 2019. Therefore, it requested to provide copy of the complaints of i) Abhishek Nangalia and ii) Shailaja Pawar. Noticee requested for grant of 15 days time to reply the show cause notice and the complaints. Noticee also informed that all correspondences should be made at the address – Mr. M. C. Shah, 503, Safal Prelude, Opp. Prahaladnagar Garden, Satellite, Ahmedabad – 380015.

Source: SecMarx — sebi:Order/MC/DPS/2019-20/5635. 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.