sebi:WTM/RKA/OIAE/109/2014
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Facts / Headnote
Show Cause Notices disposed of without passing any direction under section 11B of the SEBI Act
Provisions invoked
- s. 11B
Parties
- Ladam Steels Ltd.
- directors of Ladam Steels Ltd.
Holding
No direction under section 11B of the SEBI Act was passed against Ladam Steels Ltd. and its directors as contemplated in the SCNs issued to them, and the SCNs were disposed of.
Full text
_____________________________________________________________________________________________ In the matter of Ladam Steels Ltd.
Page 2 of 2 6. Subsequently, the company has obtained SCORES authentication and has filed the Action Taken Reports on SCORES for the pending investor grievances as referred in the SCNs. SEBI has observed that all the investors' grievances were disposed of on August 21, 2014 and no other investor grievances were pending on SCORES against the company.
7. 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 Ladam Steels Ltd. 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.
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Source: SecMarx — sebi:WTM/RKA/OIAE/109/2014. 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.