sebi:VKV/DL/AO-52/2015-16

SEBI · SEBI · 2012-08-13 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Penalty of Rs 2,00,000 imposed under Section 15C of the SEBI Act, 1992 for failure to obtain SCORES authentication and to redress pending investor grievance; matter decided ex-parte.

Provisions invoked

• s. 15
• s. 15I
• s. 15J
• s. 15C

Parties

• M/s Balaji Steel Tubes and Pipes Limited

Holding

The Noticee violated SEBI Circulars OIAE/2/2011, CIR/OIAE/1/2012 and CIR/OIAE/1/2013 by failing to obtain SCORES authentication and failing to redress 01 pending investor complaint regarding non-receipt of dividend. The Noticee was held liable under Section 15C of the SEBI Act, 1992 and a monetary penalty of Rs 2,00,000 was imposed.

Full text

Adjudication order against M/s Balaji Tubes and Pipes Limited December 18, 2015 Page 2 of 9 2. SEBI vide Circular No. - CIR/OIAE/1/2012 dated August 13, 2012 advised all companies whose securities were listed on stock exchanges to obtain SCORES authentication by September 14, 2012 failing which appropriate enforcement action would be initiated against them. Further Vide another Circular No. CIR/OIAE/1/2013 dated April 17, 2013 SEBI had granted further 30 days’ time to obtain scores authentication and informed that any failure would not only be deemed as non redressal of investor grievances but also indicate willful avoidance of the same.

Adjudication order against M/s Balaji Tubes and Pipes Limited December 18, 2015 Page 3 of 9 Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “Adjudicating Rules”) to enquire into and adjudge under section 15C of Securities and Exchange Board of India, Act, 1992 (hereinafter referred to as "SEBI Act”) for the alleged violations of SEBI Circular Nos. OIAE/2/2011 dated June 03, 2011, CIR/OIAE/1/2012 dated August 13, 2012 and CIR/OIAE/1/2013 dated April 17, 2013 by the Noticee.

Adjudication order against M/s Balaji Tubes and Pipes Limited December 18, 2015 Page 4 of 9 Hearing Notice No. SEBI-NRO/OW/AO/VKV/DL/1143/2015 on the registered address available on MCA website. (Source- http://www.mca.gov.in/DCAPortalWeb/dca/CompanyMaster.do)

Source: SecMarx — sebi:VKV/DL/AO-52/2015-16. 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.