sebi:VKV/DL/AO-189/2016
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Facts / Headnote
Adjudication proceedings disposed without penalty; Noticee held not liable under Section 15C
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- Sambhav Textiles Ltd
Holding
The Noticee, Sambhav Textiles Ltd, is not liable for monetary penalty under Section 15C of the SEBI Act, 1992 and the adjudication proceedings initiated vide SCN dated March 26, 2014 are disposed.
Full text
Adjudication Order in respect of Sambhav Textiles Ltd April 04, 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 22, 2012.
Adjudication Order in respect of Sambhav Textiles Ltd April 04, 2016 Page 3 of 5 LUDHIANA, PUNJAB-141007” of the Noticee through Postal Department. However, Noticee did not submit any reply in response of the SCN issued.
Adjudication Order in respect of Sambhav Textiles Ltd April 04, 2016 Page 4 of 5 against a company is uploaded by SEBI in the SCORES, it amounted to calling upon by SEBI to such company to redress the investor grievance. For the purposes of accessing the complaints of the investors against them, as uploaded in the SCORES, listed companies were required to login to SCORES system electronically through a company specific user id and password, to be provided by SEBI. I note that SCN dated 26.03.2014 inter alia alleged that by not submitting the details for authentication as required by the Circular, the Noticee did not obtain the user id and password which was essential for accessing the complaints pertaining to the Noticee, as uploaded on the SCORES for redressing the investor grievances and subsequent redressal thereof.
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Source: SecMarx — sebi:VKV/DL/AO-189/2016. 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.