sebi:Order/PM/AB/2019-20/3799
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Facts / Headnote
Show Cause Notice No. AO/AN/SCN/5617/2016 disposed of; no inquiry held and no penalty imposed
Provisions invoked
- s. 15
- s. 15H
Parties
- M/s Mangalam India Ltd.
Holding
The Adjudicating Officer disposed of the Show Cause Notice without holding any inquiry, finding that no company by the name of Mangalam India Ltd. exists and that M/s Manglam India Ltd. had already obtained SCORES authentication.
Full text
Page 2 of 3 APPOINTMENT OF ADJUDICATING OFFICER 4. Securities and Exchange Board of India vide order dated April 10, 2014 appointed Mr. Amar Navlani as the Adjudicating Officer, to inquire and adjudge under section 15-I of SEBI Act and rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as "Rules") to enquire into and adjudge under section 15HB of SEBI Act,1992 for failing to obtain the SCORES authentication by the Noticee in spite of being called upon by SEBI to do so. Pursuant to the transfer of Mr. Amar Navlani and reallocation of work, the undersigned was appointed as the Adjudicating Officer vide order dated January 8, 2019. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Page 3 of 3 8. Pursuant to the appointment of undersigned as AO, the OD was again asked to confirm if M/s Mangalam India Ltd. and M/s Manglam India Ltd. are the same companies. However, the OD reiterated its stand and declined to offer any further comments.
5. A Show Cause Notice dated February 26, 2016 (hereinafter referred to as "SCN") was issued to the Noticee under rule 4 of the Rules to show cause as to why an inquiry should not be held against it in terms of rule 4 of the Rules read with section 15-I of the SEBI Act, 1992 and penalty be not imposed under Section 15HB of the SEBI Act, 1992 for the alleged violation of not obtaining of SCORES authentication by the Noticee in spite of being called upon by SEBI to do so.
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Source: SecMarx — sebi:Order/PM/AB/2019-20/3799. 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.