sebi:VKV/DL/AO-65/2016

SEBI · SEBI · 2012-08-22 · Vijayant Kumar Verma, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings initiated vide Show Cause Notice dated February 02, 2016 disposed of without monetary penalty; Section 15C charge held not established

Provisions invoked

• s. 15
• s. 15H
• s. 15J
• s. 15I
• s. 15C

Parties

• M/s Himachal Tubes And Wires Limited

Holding

The Adjudicating Officer disposed of the proceedings under Section 15C initiated vide SCN dated February 02, 2016 against M/s Himachal Tubes And Wires Limited without imposing any monetary penalty, holding that violation of Section 15C of the SEBI Act, 1992 was not established.

Full text

Adjudication Order against M/s Himachal Tubes And Wires Limited March 16, 2016 Page 2 of 6 2. 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 two (02) investor complaint(s) were pending against the Noticee as on July 20, 2012.

Adjudication Order against M/s Himachal Tubes And Wires Limited March 16, 2016 Page 3 of 6 Act, 1992 and penalty be not imposed under section 15C of SEBI Act, 1992 for the violation alleged to have been committed by the Noticee.

Adjudication Order against M/s Himachal Tubes And Wires Limited March 16, 2016 Page 4 of 6 a) Whether the Noticee has violated the provisions of Section 15C of SEBI Act, 1992? b) Whether the Noticee is liable for monetary penalty under Section 15C of the SEBI Act, 1992? c) What quantum of monetary penalty should be imposed on the Noticee taking into consideration the factors mentioned in Section 15J of the SEBI Act, 1992?

Source: SecMarx — sebi:VKV/DL/AO-65/2016. 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.