sebi:Order/SR/SM/2019-20/3771/96
Facts / Headnote
Adjudication proceedings disposed of without imposing any monetary penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- M B Commerce Ltd.
Holding
The Noticee violated SEBI Circulars by failing to obtain SCORES authentication within the prescribed timeline, but no monetary penalty was imposed under Section 15HB of the SEBI Act, 1992.
Full text
Adjudication Order in respect of M B Commerce Ltd. for failure to obtain SCORES Authentication Page 2 of 5 Exchange Board of India Act, 1992 (hereinafter referred to as the SEBI Act, 1992). Regional Office of SEBI initiated adjudication proceedings against the Noticee for not obtaining User ID and Password in SCORES vide note dated March 10, 2014 and the same was approved by the competent authority on April 10, 2014.
Adjudication Order in respect of M B Commerce Ltd. for failure to obtain SCORES Authentication Page 3 of 5 Stock Exchange (CSE). It was not aware about the SCORES mechanism for the redressal of investor complaints if any. After knowing about the SCORES, it had applied for LOGIN-ID and Password and accordingly, Noticee got the same on January 01, 2015. Noticee provided the copy of e-mail dated January 01, 2015 received from SEBI regarding the SCORES Login ID and password. The same is on record. Noticee also informed that there was no investor complaints against it.
Adjudication Order in respect of M B Commerce Ltd. for failure to obtain SCORES Authentication Page 4 of 5 10. Issue (a): Whether the Noticee has violated the provisions of the SEBI Circulars by failing to obtain SCORES authentication?
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Source: SecMarx — sebi:Order/SR/SM/2019-20/3771/96. 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.