sebi:VKV/DL/AO-60/2016
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Facts / Headnote
Adjudication proceedings disposed of; no penalty imposed
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
Parties
- M/s Modern Steels Limited
Holding
The Noticee was held not liable for failing to resolve investor grievances, as the pending complaint did not fall within SEBI's ambit and the Noticee had obtained SCORES authentication. Consequently, no monetary penalty was imposed under Section 15C of the SEBI Act, 1992.
Full text
Adjudication order in respect of M/s Modern Steels Limited March 09, 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 November 17, 2014 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 Modern Steels Limited March 09, 2016 Page 3 of 6 Exchange Board of India, Act, 1992 (hereinafter referred to as "SEBI Act, 1992”) for the alleged violations committed by the Noticee.
Adjudication order in respect of M/s Modern Steels Limited March 09, 2016 Page 4 of 6 23, 2016 at SEBI-NRO, New Delhi on March 02, 2016. The said Notice of hearing was duly served to the Noticee through the Department of Post.
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Source: SecMarx — sebi:VKV/DL/AO-60/2016. 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.