sebi:VKV/AS/AO-25/2018

SEBI · SEBI · 2015-02-13 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Penalty imposed on the Noticee

Provisions invoked

• s. 15
• s. 15I
• s. 15J
• s. 15C

Parties

• M/s Rathi Ispat Ltd.

Holding

The Noticee, M/s Rathi Ispat Ltd., failed to resolve investor grievances and failed to obtain SCORES authentication as required by SEBI Circulars, and is liable for a monetary penalty of Rs. 2,00,000/- under Sections 15C and 15HB of the SEBI Act, 1992.

Full text

Adjudication Order against M/s Rathi Ispat Ltd. February 13, 2018 Page 2 of 6 APPOINTMENT OF ADJUDICATING OFFICER 4. The undersigned was appointed as Adjudicating Officer, vide order dated February 13, 2015, under section 15-I of SEBI Act and rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “Adjudication Rules”) to enquire into and adjudge under section 15C and 15HB of Securities and Exchange Board of India, Act, 1992 (hereinafter referred to as "SEBI Act, 1992”) for the alleged violations committed by the Noticee.

Adjudication Order against M/s Rathi Ispat Ltd. February 13, 2018 Page 3 of 6 10. On perusal of the material available on record and giving regard to the facts and circumstances of the case, I record my findings hereunder.

Adjudication Order against M/s Rathi Ispat Ltd. February 13, 2018 Page 4 of 6 ISSUE 2: Whether the Noticee is liable for monetary penalty under Section 15C and 15HB of the SEBI Act, 1992?

Source: SecMarx — sebi:VKV/AS/AO-25/2018. 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.