sebi:RA/JP/276/2018
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Facts / Headnote
Violation found; penalty imposed ex-parte
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Holding
The Noticee failed to obtain SCORES authentication in violation of SEBI Circulars dated June 03, 2011, August 13, 2012, April 17, 2013 and December 18, 2014, and a monetary penalty of Rs. 6,00,000 under Section 15HB of the SEBI Act was imposed.
Full text
Page 2 of 10 APPOINTMENT OF ADJUDICATING OFFICER 2. SEBI initiated adjudication proceedings and appointed Ms. Anita Kenkare as Adjudicating Officer under Section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter be referred to as, the “SEBI Act”) read with rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter be referred to as the “Adjudication Rules”) vide
Page 3 of 10 advertisement, failing which SEBI would be constrained to initiate appropriate enforcement actions. Thereafter, vide Circular No. CIR/OIAE/1/2013 dated April 17, 2013, listed companies that had not obtained their SCORES user ID and password from SEBI, were directed to obtain the same. The said Circular stated that failure to obtain SCORES user ID and password within 30 days of issue of this Circular, would be deemed to be willful avoidance of the same. However, allegedly, the Noticee had failed to obtain the SCORES authentication as required.
Page 4 of 10 was also affixed at the last known address of the Noticee and the Affixture Report dated July 22, 2017 is available on records. However, Noticee had neither appeared during the scheduled hearing nor submitted any reply towards the SCN.
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Source: SecMarx — sebi:RA/JP/276/2018. 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.