sebi:PJ/JAK/5/2016
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Facts / Headnote
Proceeded ex-parte; imposed penalty of Rs. 1,00,000 under Section 15HB for failure to obtain SCORES authentication; charge under Section 15C for failure to redress one investor complaint held not established.
Provisions invoked
- s. 15
- s. 19
- s. 15J
- s. 15C
Parties
- M/s Sri Bhawani Cable Tel Limited
Holding
The Noticee violated SEBI Circular No. CIR/OIAE/1/2012 by failing to obtain SCORES authentication and is liable to a penalty of Rs. 1,00,000 under Section 15HB; the charge of violating Section 15C for failure to redress one investor complaint is not established.
Full text
Adjudication Order in respect ofM/sSri Bhawani Cable Tel LimitedPage 2 of 11 No. CIR/OIAE/1/2012 dated August 13, 2012. The same was also communicated to the Noticee by SEBIvide its letter Ref. No. OIAE1/MG/31236/2014dated 03.11.2014(inadvertently mentioned as dated 18.11.2014 in the Show Cause Notice).
Adjudication Order in respect ofM/sSri Bhawani Cable Tel LimitedPage 3 of 11 Hand Delivery, however, it was returned undelivered with a remark “Consignee Shifted/Moved”.Thereafter, an opportunity of personal hearing was granted on 11.02.2016 vide hearing notice dated 21.01.2016 forwarding the copy of the SCN dated 14.01.2016 andadvising the Noticee to reply within 14 days. The said hearing notice was affixed on the door of the premises on 29.01.2016.The Noticee failed to reply to the SCN and also did not appear for the hearing.Thereafter,another opportunity of personal hearing was granted on 25.02.2016 vide hearing notice dated 15.02.2016. The said hearing notice was sent through Speed post Acknowledgement Due and/ or Hand Delivery/ affixture. The said notice sent through Speed Post Acknowledgement Due was returned undelivered with a remark “Left”. Sincethe hearing notice could not be delivered, the same was affixed at the address of the Noticee on 16.02.2016. The Noticee was advised to furnish the reply by 24.02.2016.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 11.02.2016 and 25.02.2016in spite of sending the SCN and Hearing Notices on the Registered Office address of the Company as per MCA website. 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 fails to attend the hearing proceed
Adjudication Order in respect ofM/sSri Bhawani Cable Tel LimitedPage 4 of 11 CONSIDERATION OF ISSUES 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 redress 1(one) investor complaint.
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Source: SecMarx — sebi:PJ/JAK/5/2016. 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.