sebi:VKV/DL/AO-05/2015-16

SEBI · SEBI · 2011-06-03 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed without imposition of penalty

Provisions invoked

• s. 15
• s. 15I
• s. 15J
• s. 15C

Parties

• M/s Hisar Spinning Mills Ltd.

Holding

The allegation of failure to redress investor grievances against M/s Hisar Spinning Mills Ltd. was held not established and the adjudication proceedings initiated vide Show Cause Notice dated August 18, 2015 were disposed without monetary penalty under Section 15C of the SEBI Act, 1992.

Full text

Adjudication order in respect of M/s Hisar Spinning Mills Ltd. February 02, 2016 Page 2 of 6 2. In order to further remind the Noticee about the compliance with the requirements as laid down in the SEBI Circular dated June 03, 2011, a letter dated April 16, 2012 was sent to the Noticee informing about the commencement of processing of investor complaints in a centralized web based complaints redress system SCORES in terms of the Circular and advising the Noticee to send the information (i.e. details for authentication) as required in the Circular, at the earliest. Both the above mentioned letters returned undelivered.

Adjudication order in respect of M/s Hisar Spinning Mills Ltd. February 02, 2016 Page 3 of 6 imposed under section 15C of SEBI Act, 1992 for the violations alleged to have been committed by the Noticee.

Adjudication order in respect of M/s Hisar Spinning Mills Ltd. February 02, 2016 Page 4 of 6 PERSONAL HEARING 9. On the scheduled date of personal hearing, Mr. Sanjeev Kumar Goel, Practicing Company Secretary, appeared as Authorised Representative (AR). During the hearing, the AR made the following submissions, which inter alia, stated as under: "..........  We reiterate the submissions made by the Noticee vide letter dated August 28, 2015. Further, the pending complaint of the complainant has been resolved by the noticee.  The AR also informed that Company has taken up matter with the complainant directly regarding non-receipt of dividend. Further, it was also informed that Company has never declared dividend.  We have no further submissions to make in the matter. ..........”

Source: SecMarx — sebi:VKV/DL/AO-05/2015-16. 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.