sebi:VKV/DL/AO-124/2016
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Facts / Headnote
Adjudication proceedings disposed of; Noticee held not to have violated Section 15C; no monetary penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Magna Leasing & Finance Ltd
Holding
The Noticee has not violated Section 15C of the SEBI Act, 1992 and is not liable for monetary penalty thereunder. The adjudication proceedings initiated vide SCN dated 02.02.2016 are disposed of without penalty.
Full text
Adjudication Order against M/s Magna Leasing & Finance Ltd March 29, 2016 Page 2 of 5 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 seven (07) investor complaint(s) were pending against the Noticee as on July 20, 2012.
Adjudication Order against M/s Magna Leasing & Finance Ltd March 29, 2016 Page 3 of 5 6. The said SCN bearing No. SEBI-NRO/OW/AO/VKV/DL/188/2016 dated 02.02.2016 was sent at the last known address(s) at “5, KRISHNA MENON LANE NEW DELHI- 110001” of the Noticee through Postal Department. However, Noticee did not submit any reply for the same.
Adjudication Order against M/s Magna Leasing & Finance Ltd March 29, 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-124/2016. 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.