sebi:RC/AO-01/2011
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Facts / Headnote
Violation established; penalty imposed
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15C
Parties
- M/s Gujarat Investment Castings Ltd (now known as Kaleidoscope Films Ltd)
Holding
The noticee was held to have violated Section 15C and Section 15A(a) of the SEBI Act and a total penalty of Rs. 17,00,000 (Rs. 15,00,000 for Section 15C and Rs. 2,00,000 for Section 15A(a)) was imposed on M/s Gujarat Investment Castings Ltd.
Full text
_____________________________________________________________________________ Page 2 of 11 including initiation of Adjudication proceedings. The aforesaid letter was sent by Registered Post Acknowledgement Due (RPAD) and the service of the same is on record.
_____________________________________________________________________________ Page 3 of 11 8. In view of the above, as the company failed to redress the grievances of the investors and failed to submit complete status report/action taken report as required by SEBI, the company was alleged to have violated section 15Cand 15A (a) of the Securities and Exchange Board of India Act,1992 (hereinafter referred to as the “SEBI Act”).
_____________________________________________________________________________ Page 4 of 11 12. Noticee sent a letter dated November 26, 2009 addressed to the undersigned and other SEBI officials referring to earlier SEBI correspondence without mentioning the said SCN. The summary of its submission is as follows.
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Source: SecMarx — sebi:RC/AO-01/2011. 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.