sebi:PJ/VP/02/2016

SEBI · SEBI · 2016-01-13 · Prasad P Jagadale, Adjudicating Officer

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

Facts / Headnote

Adjudication proceedings disposed of; show cause notice dated 13.01.2016 cannot be proceeded with.

Provisions invoked

Parties

Holding

The adjudication proceedings against Sulzer India Limited for failure to obtain SCORES authentication and resolve investor complaints under SEBI Circular No. CIR/OIAE/1/2012 cannot be proceeded with, as the company was delisted before the circular was issued and SEBI has no jurisdiction over unlisted companies.

Full text

Adjudication Order in respect of M/s. Sulzer India Limited Page 2 of 7 adjudge under Section 15C and 15HB of the SEBI Act, the alleged violations of the provisions of Circular No. CIR/OIAE/1/2012 dated August 13, 2012.

Adjudication Order in respect of M/s. Sulzer India Limited Page 3 of 7 failed to resolve the investor complaint with in the specified time in term of the Circulars.

Adjudication Order in respect of M/s. Sulzer India Limited Page 4 of 7 1. In this regard, all companies whose securities are listed on stock exchanges, are hereby advised to obtain SCORES authentication by September 14, 2012 in terms of the aforesaid circular.

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Source: SecMarx — sebi:PJ/VP/02/2016. 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.