sebi:VKV/DL/AO-45/2016
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Alchemist Corporation Ltd.
Holding
The Adjudicating Officer disposed of the adjudication proceedings against M/s Alchemist Corporation Ltd., holding that the allegation of failure to redress investor grievances was not established and no penalty under Section 15C of the SEBI Act, 1992 was leviable.
Full text
Adjudication order in respect of M/s Alchemist Corporation Ltd. February 22, 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, letter dated April 18, 2012 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 Alchemist Corporation Ltd. February 22, 2016 Page 3 of 6 the alleged violations committed by the Noticee. Subsequent to the transfer of Shri Ram Mohan Rao, the undersigned was appointed as Adjudicating Officer vide order dated June 25, 2013.
Adjudication order in respect of M/s Alchemist Corporation Ltd. February 22, 2016 Page 4 of 6 PERSONAL HEARING 10. On the scheduled date of personal hearing, Mr. Rajeev Gupta appeared as Authorised Representative (AR). During the hearing, the AR made the following submissions, which inter alia, stated as under: “…..The AR submitted that we have duly complied all the grievances of the investors on the SCORES and there is no complaint pending on SCORES as on date. Relevant correspondence is also enclosed herewith. ........”
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Source: SecMarx — sebi:VKV/DL/AO-45/2016. 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.