sebi:PKK/AO/163/2011
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Facts / Headnote
Charges not established; matter disposed of
Provisions invoked
- s. 15J
- s. 15C
Holding
The charges leveled against the Noticee as per the Show Cause Notice for failure to redress investor grievances under Section 15C of the SEBI Act were not established, and the matter was disposed of without penalty.
Full text
Page 2 of 7 Notice, Reply and Personal Hearing: 3. A Show Cause Notice dated March 18, 2011 (hereinafter referred to as ‘SCN’) was issued to the Noticee in terms of the provisions of Rule 4 of SEBI (Procedure for holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the Adjudicating Rules) requiring the Noticee to show cause as to why an inquiry should not be held for the violations alleged to have been committed by it.
Page 3 of 7 transfer agent’s (RTA) letters no. HAND/2907/1011/54 dated August 02, 2010, November 01, 2010. The actual complaints are 21 out of which 5 complaints had already been resolved. On April 04, 2011 it sent letters to all 21 investors. Since it is in regular follow up activities with its investors, it requested the Adjudicating Officer (AO) not to take any action and impose
Page 4 of 7 b) Does the violation, if any, on the part of the Noticee attract any monetary penalty under sections 15C of SEBI Act?
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Source: SecMarx — sebi:PKK/AO/163/2011. 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.