sebi:VKV/AS/AO-46/2018
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Facts / Headnote
Penalty of Rs. 50,000 imposed on Noticee under Section 15C of SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Fusion Fittings India Ltd.
Holding
The Noticee failed to redress pending investor grievance in SCORES in violation of SEBI directives, and a penalty of Rs. 50,000 was imposed on the Noticee under Section 15C of the SEBI Act, 1992.
Full text
Adjudication Order against M/s Fusion Fittings India Ltd. March 19, 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 Fusion Fittings India Ltd. March 19, 2018 Page 3 of 5 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 Fusion Fittings India Ltd. March 19, 2018 Page 4 of 5 monetary penalty under Sections 15C and 15HB of the SEBI Act which read as follows:
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Source: SecMarx — sebi:VKV/AS/AO-46/2018. 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.