sebi:VKV/DL/AO-108/2016
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Him Tubes Ltd
Holding
The Noticee had not violated Section 15C of the SEBI Act, 1992 and was not liable for monetary penalty under that section. The adjudication proceedings initiated vide SCN dated 02.02.2016 were disposed of.
Full text
Adjudication Order against M/s Him Tubes Ltd March 28, 2016 Page 2 of 5 2. As observed from the contents of the Circular, SCORES introduced electronic dealing of the complaints of the investors, by the respective companies. Thus, once a complaint against a company was uploaded by SEBI in the SCORES, it amounted to calling upon by SEBI to such company to redress the investor grievance. Accordingly, it was incumbent upon such company to redress the investor complaint. It was observed that one (01) investor complaint(s) were pending against the Noticee.
Adjudication Order against M/s Him Tubes Ltd March 28, 2016 Page 3 of 5 6. The said SCN bearing No. SEBI-NRO/OW/AO/VKV/DL/169/2016 dated 02.02.2016 was sent at the last known address(s) at “Mezza Nine Floor, Paramount Towers, C-17, Community Centre Janakpuri, New Delhi-110058” of the Noticee through Postal Department. However, Noticee did not submit any reply for the same.
Adjudication Order against M/s Him Tubes Ltd March 28, 2016 Page 4 of 5 ISSUE 1: Whether the Noticee has violated the provisions of Section 15C of SEBI Act, 1992?
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Source: SecMarx — sebi:VKV/DL/AO-108/2016. 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.