sebi:VKV/AS/AO-45/2018
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/S Negotium International Trade Ltd.
Holding
The Noticee was held not liable for monetary penalty under Sections 15C and 15HB of the SEBI Act, 1992, as the allegation of failing to resolve investor grievances and not obtaining SCORES authentication was not established.
Full text
Adjudication Order against M/S Negotium International Trade Ltd. March 19, 2018 Page 2 of 4 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 Negotium International Trade Ltd. March 19, 2018 Page 3 of 4 b) Whether the Noticee is liable for monetary penalty under Section 15C and 15HB 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 against M/S Negotium International Trade Ltd. March 19, 2018 Page 4 of 4 has been provided, shall be1 [liable to a penalty which shall not be less than one lakh rupees but which may extend to one crore rupees.”
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Source: SecMarx — sebi:VKV/AS/AO-45/2018. 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.