sebi:Order/MC/DS/2019-20/6666

SEBI · SEBI · 2019-08-09 · Maninder Cheema, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty imposed on Noticee for violation of SEBI Circulars

Provisions invoked

Parties

Holding

The Noticee, Alcobex Metals Limited, was held to have violated SEBI Circulars No. CIR/OIAE/2/2011, CIR/OIAE/1/2012 and CIR/OIAE/1/2013 by failing to obtain SCORES authentication while listed, and a penalty of Rs. 1,00,000/- was imposed under Section 15HB of the SEBI Act. The charge of non-redressal of investor grievances was not established.

Full text

Adjudication Order in respect of Alcobex Metals Limited Page 2 of 9 February 13, 2015, to inquire into, and adjudge under section 15C and 15HB of the SEBI Act, the alleged violations committed by the Noticee.

Adjudication Order in respect of Alcobex Metals Limited Page 3 of 9 7. SEBI observed that certain companies including Alcobex Metals Limited had neither obtained the SCORES authentication nor redressed the grievance of investor(s) and therefore, had failed to comply with the aforesaid SEBI Circulars.

Adjudication Order in respect of Alcobex Metals Limited Page 4 of 9 reply was received from the Noticee and no one appeared on behalf of the Noticee on the given date.

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Source: SecMarx — sebi:Order/MC/DS/2019-20/6666. 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.