sebi:VKV/DL/AO-57/2016
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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 The Jagatjit Sugar Mills Co. Ltd.
Holding
The allegation of failure to redress investor grievances was held not established and the Noticee was held not liable for monetary penalty under Section 15C of the SEBI Act, 1992. The adjudication proceedings initiated vide Show Cause Notice dated March 17, 2015 were disposed of.
Full text
Adjudication order in respect of M/s The Jagatjit Sugar Mills Co. Ltd. February 29, 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 The Jagatjit Sugar Mills Co. Ltd. February 29, 2016 Page 3 of 6 SEBI Act, 1992, 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 The Jagatjit Sugar Mills Co. Ltd. February 29, 2016 Page 4 of 6 10. Vide email dated December 30, 2015, Noticee further made the following submissions, which inter alia, stated as under: “…… The Company till date has not received any User id and Password, though applied by the Company. May due to oversight, the Company is not able to locate the same from the Email id provided to SEBI; In this connection, we have sent an Email request to Scores@sebi.gov.in to provide us the Userid & Password; We have checked our shareholder list and there is no Shareholder of the name Mr. R.P Jain; However, we have sent a formal letter to Mr. R.P Jain to redress his genuine grievance, if any, against the Company; Copy of the letter is enclosed along with postal receipt is enclosed. However, complainant has not replied of our letter sent. .….”
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Source: SecMarx — sebi:VKV/DL/AO-57/2016. 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.