sebi:VKV/DL/AO-204/2016

SEBI · SEBI · 2011-06-03 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of without monetary penalty

Provisions invoked

Parties

Holding

The adjudication proceedings initiated against M/s Sooraj Automobiles Ltd. vide Show Cause Notice dated January 29, 2016 were disposed of without penalty as the allegation of failure to redress investor grievances was not established.

Full text

Adjudication order in respect of M/s Sooraj Automobiles Ltd. April 21, 2016 Page 2 of 6 2. In order to further remind the Noticee about the compliance with the requirements as laid down in the SEBI Circular dated June 03, 2011, letters dated May 30, 2013 and June 19, 2013 was sent to the Noticee informing about the commencement of processing of investor complaints in a centralized web based complaints redress system SCORES in terms of the Circular and advising the Noticee to send the information (i.e. details for authentication) as required in the Circular, at the earliest.

Adjudication order in respect of M/s Sooraj Automobiles Ltd. April 21, 2016 Page 3 of 6 SHOW CAUSE NOTICE, REPLY AND HEARING

Adjudication order in respect of M/s Sooraj Automobiles Ltd. April 21, 2016 Page 4 of 6 10. Acceding to request, another opportunity was granted to Noticee on March 08, 2016. On the scheduled date of personal hearing, Mr. Bhatnagar, appeared as Authorised Representative (AR). During the hearing, the AR made the following submissions, which inter alia, stated as under:  “….The AR submitted evidences relating to communications made with the complainants and stated that it had resolved all the pending complaints offline.  Further, AR sought 07 days’ time to submit its updation on SCORES along with the ATR…....”

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Source: SecMarx — sebi:VKV/DL/AO-204/2016. 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.