sebi:VKV/DL/AO-129/2016

SEBI · SEBI · 2016-01-29 · Vijayant Kumar Verma, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Adjudication proceedings disposed of without penalty

Provisions invoked

Parties

Holding

The Adjudicating Officer held that the Noticee had not violated Section 15C of the SEBI Act, 1992 and disposed of the adjudication proceedings initiated vide SCN dated 29.01.2016 without imposing any monetary penalty.

Full text

Adjudication Order against M/s MLG Industries 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 one (01) investor complaint(s) were pending against the Noticee as on July 20, 2012.

Adjudication Order against M/s MLG Industries Ltd March 29, 2016 Page 3 of 5 6. The said SCN bearing No. SEBI-NRO/OW/AO/VKV/DL/101/2016 dated 29.01.2016 was sent at the last known address(s) at “50-A HUDA INDUSTRIES LIMITED, SECTOR -II, P.B. NO. 1549, REWARI, HARYANA-123401” of the Noticee through Postal Department. However, Noticee did not submit any reply for the same.

Adjudication Order against M/s MLG Industries 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-129/2016. 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.