sebi:VKV/AS/AO-35/2018
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/S Krishna Synthetics Limited
Holding
The adjudication proceedings against M/S Krishna Synthetics Limited were disposed of without penalty as the allegation of failure to redress investor grievances was not established.
Full text
Adjudication Order against M/s Krishna Synthetics Ltd. March 12, 2018 Page 2 of 5 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 Krishna Synthetics Ltd. March 12, 2018 Page 3 of 5 Northern Regional Office, New Delhi which was delivered through Department of Post. The Noticee, however, did not avail the opportunity of personal hearing on the scheduled date.
Adjudication Order against M/s Krishna Synthetics Ltd. March 12, 2018 Page 4 of 5 12. Since, the Noticee had obtained SCORES authentication and the complaint was resolved to the satisfaction of the Complainant, I hold that the allegation of not resolving investor grievances, as alleged in the SCN, does not stand established.
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Source: SecMarx — sebi:VKV/AS/AO-35/2018. 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.