sebi:WTM/SKM/EFD1-DRAII/08/2019-20
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Facts / Headnote
Noticee Company restrained and prohibited from accessing the securities market and from buying, selling or otherwise dealing in securities, directly or indirectly, till it resolves the investor grievances pending against it; existing holding including units of mutual funds frozen; order effective immediately.
Provisions invoked
- s. 19
Parties
- M/s. Gujarat Bonanza Auto & Steel Rolling Ltd.
Holding
The Noticee Company was restrained and prohibited from accessing the securities market and dealing in securities till it resolves the pending investor grievances, with its existing holdings including mutual fund units frozen.
Full text
Order in the matter of M/s. Gujarat Bonanza Auto & Steel Rolling Ltd. Page 2 of 6 upload their Action Taken Reports (hereinafter referred to as “ATR”) in SCORES for the benefit of the complainant. The companies can also upload the ATR by logging in to SCORES by using their SCORES authentication (consisting of user ID and password), which can be obtained by the company after submitting the necessary details to SEBI. Similarly, investors can also upload their complaints and check the status thereof from time to time by logging into SCORES by using their ID and password which they receive after registration with SCORES. The online grievance redressal system facilitates speedy disposal and redressal of investors’ grievances by the listed companies under close monitoring by SEBI.
Order in the matter of M/s. Gujarat Bonanza Auto & Steel Rolling Ltd. Page 3 of 6 resolution of the complaints through SCORES mechanism. When no compliance was forthcoming from the Noticee, it was followed up by a notice which was published in the newspaper on January 25, 2013 advising the Noticee to obtain SCORES authentication for early and effective resolution of investors complaint. I also note that a letter dated April 30, 2013 was sent to the Noticee, reminding that it had not yet obtained the SCORES authentication and that investors complaint has been pending against the Company. The letter directed the Noticee to take up steps in compliance of the above mentioned circular, failing which appropriate regulatory action against the Company would be initiated.
Order in the matter of M/s. Gujarat Bonanza Auto & Steel Rolling Ltd. Page 4 of 6 any written reply/submission Therefore, I proceed to deal with the matter, based on the materials available on record. I have considered the SCN, the annexures to the SCN and other material on record.
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Source: SecMarx — sebi:WTM/SKM/EFD1-DRAII/08/2019-20. 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.