sebi:PKK/AO/190/2011
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed for violation of Section 15C of SEBI Act
Provisions invoked
- s. 15
- s. 15J
- s. 15C
- s. 190
Holding
The Noticee delayed/failed to redress investor grievances and failed to submit the ATR within the time specified by SEBI, thereby violating Section 15C of the SEBI Act, and is liable to a monetary penalty of Rs. 1,00,000.
Full text
Page 2 of 8 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 8 6. The Adjudicating Officer (AO) considered the facts of the case, reply of the Noticee and other materials available on record and decided to conduct an inquiry in the matter. The AO granted an opportunity of personal hearing to the Noticee and accordingly it was advised to attend the hearing on May 09, 2011. The authorized representative of the Noticee appeared before me on the said date and inter-alia submitted that it wished to go for consent and would file consent application latest by June 10, 2011 and it requested for an adjournment of the hearing. The Noticee thereafter was advised to appear on June 14, 2011 which was further adjourned to October 20. 2011.
Page 4 of 8 Consideration of Issues, Evidences and Findings: 9. I have carefully perused the charges made against the Noticee mentioned in the SCN, the replies and submissions made by the Noticee and the documents available on record. The issues that arise for consideration in the present case are:-
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Source: SecMarx — sebi:PKK/AO/190/2011. 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.