sebi:VKV/DL/AO-181/2016
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Facts / Headnote
Adjudication proceedings disposed of without penalty under Section 15C
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- Modi Business Machines Ltd
Holding
The adjudication proceedings initiated against Modi Business Machines Ltd vide SCN dated 26.03.2014 were disposed of without penalty. The allegation of violation of Section 15C of the SEBI Act, 1992 was held not tenable.
Full text
Adjudication Order in respect of Modi Business Machines Ltd March 31, 2016 Page 2 of 5 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 Modi Business Machines Ltd March 31, 2016 Page 3 of 5 CHANDIGARH - 160 051” of the Noticee through Postal Department which was duly served upon the Noticee. However, same was undelivered.
Adjudication Order in respect of Modi Business Machines 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-181/2016. 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.