sebi:VKV/DL/AO-180/2016
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Facts / Headnote
Adjudication proceedings initiated vide SCN dated 26.03.2014 disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- Jai Parabolic Springs Ltd.
Holding
The adjudication proceedings against Jai Parabolic Springs Ltd. under Section 15C of the SEBI Act, 1992 were disposed of without penalty as violation of Section 15C was held not established.
Full text
Adjudication Order in respect of Jai Parabolic Springs Ltd. March 31, 2016 Page 2 of 6 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 01 (one) investor complaint(s) was pending against the Noticee as on July 20, 2012.
Adjudication Order in respect of Jai Parabolic Springs Ltd. March 31, 2016 Page 3 of 6 6. The said SCN bearing No. SEBI-NRO/AO/VKV/SKG/857/2014 dated March 26, 2014 was sent at the known office address(s) at “B-178, PHASE VII, SAS NAGAR, MOHALI, PUNJAB-160057” of the Noticee through Postal Department which was duly served upon the Noticee. However, same was undelivered.
Adjudication Order in respect of Jai Parabolic Springs Ltd. March 31, 2016 Page 4 of 6 a) Whether the Noticee has violated the provisions of Section 15C of SEBI Act, 1992? b) Whether the Noticee is liable for monetary penalty under Section 15C of the SEBI Act, 1992? c) What quantum of monetary penalty should be imposed on the Noticee taking into consideration the factors mentioned in Section 15J of the SEBI Act, 1992?
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Source: SecMarx — sebi:VKV/DL/AO-180/2016. 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.