sebi:WTM/RKA/EFD/DRA-II/53/2016
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Facts / Headnote
Show Cause Notices disposed of; no directions issued under section 11B
Provisions invoked
- s. 11B
Parties
- Koffee Break Pictures Limited
- Mr. Apurva M Shah
- Mr. Vijay Bharaktiya Singh
Holding
No direction under section 11B of the SEBI Act, 1992 was issued against Koffee Break Pictures Limited and its directors, Mr. Apurva M Shah and Mr. Vijay Bharaktiya Singh, and the Show Cause Notices dated March 28, 2013 and April 26, 2013 were disposed of.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA ORDER Under section 11B of the Securities and Exchange Board of India Act, 1992 in respect of (1) Koffee Break Pictures Limited, and its directors viz. (2) Mr. Apurva M Shah and (3) Mr. Vijay Bharaktiya Singh ______________________________________________________________________________
1. Koffee Break Pictures Limited (hereinafter referred to as ‘the company’) is a listed company having its registered office at 374, 3rd Floor, Powai Plaza, Hiranandani Garden, Powai, Mumbai - 400076. It was observed that the company had obtained SCORES authentication but it had failed to redress six investor grievances that were pending against the company for more than 30 days.
2. In the above regard, SEBI issued Show Cause Notices (SCNs) dated March 28, 2013 and April 26, 2013, to the company and its directors,viz; Mr. Apurva M Shah and Mr. Vijay Bharaktiya Singh calling upon them to show cause as to why suitable directions including direction to restrain them from accessing the securities market for a specified period should not be issued under section 11B of the SEBI Act. Replying to the SCNs, the company vide its letter dated October 20, 2014 submitted that the said pending investor grievances have been resolved and forwarded a copy of Action Taken Report. SEBI has verified and confirmed that all the investor complaints which were subject matter of the SCNs have been resolved.
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Source: SecMarx — sebi:WTM/RKA/EFD/DRA-II/53/2016. 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.