sebi:VKV/DL/AO-185/2016
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- Usha India Ltd
Holding
The allegation that Usha India Ltd violated Section 15C of the SEBI Act, 1992 was held not tenable and the adjudication proceedings initiated vide Show Cause Notice dated 20.03.2014 were disposed of without imposing monetary penalty.
Full text
Adjudication Order in respect of Usha India 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 39 (thirty nine) investor complaint(s) was pending against the Noticee as on July 20, 2012.
Adjudication Order in respect of Usha India Ltd March 31, 2016 Page 3 of 6 6. The said SCN bearing No. SEBI-NRO/AO/VKV/SKG/201/2014 dated January 29, 2014 was sent at the known office address(s) at “VILLAGE GUJARTOLA, AMETHI ROAD, GAURIGANJ, RAIBAREILLY, Uttar Pradesh-228001” of the Noticee through Postal Department which was duly served upon the Noticee. However, Noticee did not submit any reply of the same.
Adjudication Order in respect of Usha India Ltd March 31, 2016 Page 4 of 6 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-185/2016. 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.