sebi:VKV/DL/AO-15/2015-16

SEBI · SEBI · 2015-03-30 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of without imposition of penalty

Provisions invoked

• s. 15
• s. 15I
• s. 15J
• s. 15C

Parties

• M/s Haryana Texprints (Overseas) Ltd

Holding

The Adjudicating Officer held that the allegation that the Noticee failed to redress three pending investor grievances was not established and disposed of the adjudication proceedings initiated vide Show Cause Notice dated August 18, 2015 without imposing monetary penalty under Section 15C of the SEBI Act, 1992.

Full text

Adjudication order in respect of M/s Haryana Texprints (Overseas) Ltd February 05, 2016 Page 2 of 6 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 three (03) investor complaint(s) were pending against the Noticee as on March 30, 2015. It was alleged that Noticee had failed to redress three (03) pending investor grievances which render the Noticee liable for imposition of penalty under section 15 C of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act,1992’).

Adjudication order in respect of M/s Haryana Texprints (Overseas) Ltd February 05, 2016 Page 3 of 6 address of the Noticee at "Plot no. 3, Sector No.25, Faridabad, Haryana-121004”. The said SCN was duly delivered to the Noticee through the Department of Post.

Adjudication order in respect of M/s Haryana Texprints (Overseas) Ltd February 05, 2016 Page 4 of 6  “…….We reiterate the submissions made by the Noticee vide letter dated September 05, 2015. Further, the pending complaint of the complainant has been resolved by the noticee.

Source: SecMarx — sebi:VKV/DL/AO-15/2015-16. 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.