sebi:RC/AO-3/2011
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed for violations of Section 15C and Section 15A(a)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 15C
Parties
- M/s Indu Nissan Oxo Chemical Industries Ltd
Holding
The noticee was held to have violated Section 15C and Section 15A(a) of the SEBI Act for failing to redress investor grievances and failing to furnish ATR/status report, and a penalty of Rs. 10,00,000 for violation of Section 15C and Rs. 3,00,000 for violation of Section 15A(a) was imposed.
Full text
_____________________________________________________________________________ Page 2 of 10 initiate action as deemed appropriate 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 10 noticee did not redress the grievances of investors when called upon to do so by SEBI vide its letter OIAE/139169/2008 dated September 25, 2008. Vide the said letter, SEBI had informed the company that as on September 24, 2008, 56 complaints of the investors were still pending for redressal and had called upon the company to redress these grievances within 30 days of the receipt of the letter and also to file a status report/ATR within the said period. The said SCN was sent by RPAD.
_____________________________________________________________________________ Page 4 of 10 22, 2009. The hearing notice dated December 7, 2009, was sent by RPAD and the service of the same is on record.
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Source: SecMarx — sebi:RC/AO-3/2011. 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.