sebi:VKV/AS/AO-06/2018

SEBI · SEBI · 2017-08-03 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Penalty imposed

Provisions invoked

• s. 15
• s. 15I
• s. 15J
• s. 15C

Parties

• M/s South Pole Securities Ltd

Holding

The Noticee failed to redress investor grievances in violation of SEBI Circular No. CIR/OIAE/1/2013 dated April 17, 2013 and is liable for monetary penalty. A penalty of Rs. 2,00,000/- under Sections 15C and 15HB of the SEBI Act, 1992 was imposed.

Full text

Adjudication order in respect of M/s South Pole Securities Ltd. January 24, 2018 Page 2 of 4 Show Cause Notice, Reply and Personal Hearing

Adjudication order in respect of M/s South Pole Securities Ltd. January 24, 2018 Page 3 of 4 a) Whether the Noticee has failed to resolve investor grievances? b) Whether the Noticee is liable for monetary penalty under Section 15C of the SEBI Act, 1992? c) What quantum of monetary penalty should be imposed on the Noticee taking into consideration the factors mentioned in Section 15J of the SEBI Act, 1992?

Adjudication order in respect of M/s South Pole Securities Ltd. January 24, 2018 Page 4 of 4 ORDER 13. Having considered all the facts and circumstances of the case, the material available on record and the factors mentioned in Section 15J of the SEBI Act and in exercise of the powers conferred upon me under Section 15-I of the SEBI Act read with Rule 5 of the Adjudication Rules, I hereby impose a penalty of Rs. 2,00,000/- (Rupees Two Lakh only) on the Noticee under the provisions of Section 15C and 15HB of the SEBI Act. I am of the view that the said penalty is commensurate with the lapse/omission on the part of the Noticee.

Source: SecMarx — sebi:VKV/AS/AO-06/2018. 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.