sebi:WTM/RKA/OIAE/102/2014
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Facts / Headnote
SCNs disposed of; no direction passed under section 11B of the SEBI Act
Provisions invoked
- s. 11B
Parties
- Maruti Telstar Industries Ltd.
- Maruti Telstar Industries Ltd. - directors
Holding
No direction under section 11B of the SEBI Act was passed against Maruti Telstar Industries Ltd. and its directors as contemplated in the SCNs issued to them, and the SCNs were disposed of.
Full text
In the matter of Maruti Telstar Industries Ltd. Page 2 of 2 5. I have considered the SCNs, reply of Maruti and other material available on record. I note that Maruti was given SCORES authentication on May 06, 2013 and by March 14, 2014 Maruti had resolved the investor complaint as well. It is noted that, there are no further complaints pending against Maruti on SCORES.
6. Considering the facts and circumstances of the case, I am of the view that there is no need to pass any direction under section 11B of the SEBI Act against Maruti and its directors, as contemplated in the SCNs issued to them. However, they are advised to take utmost care and be vigilant in future, in respect of redressal of investor grievances. The SCNs are accordingly disposed of.
Date: 13th August, 2014 RAJEEV KUMAR AGARWAL Place: Mumbai WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA
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Source: SecMarx — sebi:WTM/RKA/OIAE/102/2014. 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.