sebi:VKV/DL/AO-130/2016
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Facts / Headnote
Adjudication proceedings initiated vide Show Cause Notice dated 29.01.2016 disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Moti Electric Industries Ltd
Holding
The adjudication proceedings against M/s Moti Electric Industries Ltd under Section 15C of the SEBI Act, 1992 were disposed of without penalty as the alleged violation of Section 15C was held not tenable.
Full text
Adjudication Order against M/s Moti Electric Industries Ltd March 30, 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 two (02) investor complaint(s) were pending against the Noticee as on July 20, 2012.
Adjudication Order against M/s Moti Electric Industries Ltd March 30, 2016 Page 3 of 5 6. The said SCN bearing No. SEBI-NRO/OW/AO/VKV/DL/102/2016 dated 29.01.2016 was sent at the last known address(s) at “43, Community Centre, Vasant Vihar, New Delhi-110057” of the Noticee through Postal Department. However, Noticee did not submit any reply for the same.
Adjudication Order against M/s Moti Electric Industries Ltd March 30, 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-130/2016. 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.