sebi:VKV/DL/AO-27/2016
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Facts / Headnote
Adjudication proceedings initiated vide SCN dated December 18, 2015 disposed of without penalty; allegation under Section 15C held not tenable
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Tinna Finex Ltd.
Holding
The allegation that M/s Tinna Finex Ltd. violated Section 15C of the SEBI Act, 1992 is not tenable and the Noticee is not liable for monetary penalty under Section 15C. The adjudication proceedings are accordingly disposed of.
Full text
Adjudicating Order in respect of M/s Tinna Finex Ltd. February 09, 2016 Page 2 of 5 3. As observed from the contents of the Circular, SCORES introduced electronic dealing of the complaints of the investors, by the respective companies. Thus, once a 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 complaints were pending against the Noticee as on July 20, 2012.
Adjudicating Order in respect of M/s Tinna Finex Ltd. February 09, 2016 Page 3 of 5 7. The said SCN No. SEBI/NRO/AO/VKV/DL/SCN/2254/2015 dated December 18, 2015 was sent at the registered office address (s) at “No. 6, Sultanpur, Mandi Road, Mehrauli, New Delhi- 110008” of the Noticee through Postal Department. However, the same was undelivered.
Adjudicating Order in respect of M/s Tinna Finex Ltd. February 09, 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-27/2016. 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.