sebi:VKV/DL/AO-184/2016
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Facts / Headnote
Adjudication proceedings disposed of without penalty; Noticee held not liable under Section 15C
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- Upar Chemical Ltd.
Holding
The adjudication proceedings initiated against Upar Chemical Ltd. vide Show Cause Notice dated 20.03.2014 were disposed of, holding that the Noticee had not violated Section 15C of the SEBI Act, 1992 and was not liable for monetary penalty thereunder.
Full text
Adjudication Order in respect of Upar Chemical 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 01 (one) investor complaint(s) was pending against the Noticee as on July 20, 2012.
Adjudication Order in respect of Upar Chemical Ltd. March 31, 2016 Page 3 of 5 6. The said SCN bearing No. SEBI-NRO/AO/VKV/SKG/581/2014 dated March 20, 2014 was sent at the known office address(s) at “C-26, SARVODAYA NAGAR KANPUR, UTTAR PRADESH” of the Noticee through Postal Department which was duly served upon the Noticee. However, same was undelivered.
Adjudication Order in respect of Upar Chemical Ltd. March 31, 2016 Page 4 of 5 FINDINGS 11. On perusal of the material available on record and giving regard to the facts and circumstances of the case, I record my findings hereunder.
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Source: SecMarx — sebi:VKV/DL/AO-184/2016. 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.