sebi:PJ/JAK/4/2016
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established ex-parte; monetary penalty imposed
Provisions invoked
- s. 15
- s. 19
- s. 15J
- s. 15C
Parties
- M/s Bubna Major Biotech Limited
Holding
The Noticee violated SEBI Circular No. CIR/OIAE/1/2012 dated August 13, 2012 by failing to obtain SCORES authentication and failing to redress two investor complaints within the prescribed time, and a total penalty of Rs. 2,00,000 was imposed under Sections 15HB and 15C of the SEBI Act.
Full text
Adjudication Order in respect of M/s Bubna Major Biotech Limited Page 2 of 9 of SEBICircular No. CIR/OIAE/1/2012 dated August 13, 2012. The same was also communicated to the Noticee by SEBI vide its letter Ref. No. OIAE1/MRG/31575/2014 dated 05.11.2014 (inadvertently mentioned as 18.11.2014 in the Show Cause Notice).
Adjudication Order in respect of M/s Bubna Major Biotech Limited Page 3 of 9 electronic mail to the e-mail id tanujajalan@yahoo.co, the email ID of the Company on the MCA websitein in terms of rule 7(b) of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Amendment Rules, 2015.The noticee did not reply to the SCN. Thereafter, an opportunity of personal hearing was granted on 15.02.2016 vide hearing notice dated 28.01.2016and advised the Noticee to reply by 12.02.2016.The said hearing notice was sent through electronic mail to the e-mail id tanujajalan@yahoo.co.in. The Noticee did not appear for the hearing. Thereafter, another opportunity of hearing was granted to the Noticee on 26.02.2016 vide hearing notice dated 16.02.2016 sent through Speed Post Acknowledgement Due on the address of the Registered Office of the Noticee as per the MCA website which was also delivered. The Noticee was advised to furnish the reply by 25.02.2016.However, the Noticee has failed to reply to the SCN till date and further failed to appear before the undersigned for the opportunities of hearing granted on 15.02.2016 and26.02.2016.In the said SCN and in the hearing notices it was specifically stated that,if the Noticee fails to submit their reply to the SCN or failsto attend the hearing proceedings on the stipulated date and time, it will be presumed that Noticee has no submissions to offer in its defense and the matter would be fu
Adjudication Order in respect of M/s Bubna Major Biotech Limited Page 4 of 9 6. I have carefully perused the documents available on record. It is observed that the allegation against the Noticee is that they have failed to obtain SCORES authentication and failed to redress2(two) investor complaints.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:PJ/JAK/4/2016. 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.