sebi:VKV/DL/AO-159/2016
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s S.R. Forgings Ltd
Holding
The Noticee was held not to have violated Section 15C of the SEBI Act, 1992, and consequently was not liable for any monetary penalty, because the statutory precondition of being 'called upon by the Board in writing' to redress grievances was not fulfilled.
Full text
Adjudication Order against M/s S.R. Forgings Ltd March 31, 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 S.R. Forgings Ltd March 31, 2016 Page 3 of 5 6. The said SCN bearing No. SEBI-NRO/OW/AO/VKV/DL/229/2016 dated 02.02.2016 was sent at the last known address(s) at “SCO 802, (2ND FLOOR), N.A.C. MANIMAJRA, CHANDIGARH (U.T.) PUNJAB” of the Noticee through Postal Department. However, Noticee did not submit any reply for the same.
Adjudication Order against M/s S.R. Forgings Ltd March 31, 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-159/2016. 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.