sebi:VKV/DL/AO-109/2016

SEBI · SEBI · 2016-02-02 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of without penalty; no violation of Section 15C found

Provisions invoked

• s. 15
• s. 15H
• s. 15I
• s. 15J
• s. 15C

Parties

• M/s Hindustan Biotech Ltd

Holding

The Noticee did not violate Section 15C of the SEBI Act, 1992 and is not liable for monetary penalty under that provision, so the adjudication proceedings initiated vide SCN dated 02.02.2016 are disposed of.

Full text

Adjudication Order against M/s Hindustan Biotech 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 five (05) investor complaint(s) were pending against the Noticee.

Adjudication Order against M/s Hindustan Biotech Ltd March 28, 2016 Page 3 of 5 6. The said SCN bearing No. SEBI-NRO/OW/AO/VKV/DL/171/2016 dated 02.02.2016 was sent at the last known address(s) at “15, UPSIDC Industrial Area, Sikandrabad, Bulandshahar, Uttar Pradesh” of the Noticee through Postal Department. However, Noticee did not submit any reply for the same.

Adjudication Order against M/s Hindustan Biotech Ltd March 28, 2016 Page 4 of 5 ISSUE 1: Whether the Noticee has violated the provisions of Section 15C of SEBI Act, 1992?

Source: SecMarx — sebi:VKV/DL/AO-109/2016. 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.