sebi:VKV/AS/AO-07/2018
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Facts / Headnote
Penalty of Rs. 1,00,000 imposed on the Noticee
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Venus Sugar Ltd.
Holding
The Noticee violated SEBI Circular No. CIR/OIAE/1/2013 by failing to obtain SCORES authentication and redress investor grievances, and is liable under Sections 15C and 15HB of the SEBI Act. A monetary penalty of Rs. 1,00,000 was imposed on the Noticee.
Full text
Adjudication Order against M/s Venus Sugar Ltd. February 1, 2018 Page 2 of 5 essential for accessing the complaints pertaining to the Noticee, as uploaded on the SCORES for redressing the investors grievances and subsequent redressal thereof, within specified time. Thus, it was alleged that Noticee had failed to redress pending investor grievances which renders the Noticee liable for imposition of penalty under Section 15C and 15HB of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as 'SEBI Act, 1992').
Adjudication Order against M/s Venus Sugar Ltd. February 1, 2018 Page 3 of 5 undersigned is of the opinion that no prejudice would be caused to the Noticee in the given matter, if another opportunity of hearing under Rule 4 (3) of Adjudication Rules is not provided to it.
Adjudication Order against M/s Venus Sugar Ltd. February 1, 2018 Page 4 of 5 specified by the Board, such company or intermediary shall be liable to a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less.”
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Source: SecMarx — sebi:VKV/AS/AO-07/2018. 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.