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2015 (10) TMI 1905 - AT - Companies LawPenalty imposed under Section 15C of SEBI Act, 1992 - Appellant failed to obtain SCORES Authentication within stipulated time and redress investor grievance - Appellant obliged with the same after receiving SCN - Contended by Appellant is that company was dormant from past 7 years, was in poor financial condition and it was virtually impossible to hire a Company Secretary - No loss caused to the investors; penalty to be set aside. Held That:- Appellant being a listed company is bound to comply with the directions of SEBI and redress investor grievances - No investor loss caused can be the ground to set aside penalty imposed - Penalty cannot be said as unreasonable and harsh as same is imposed after considering all mitigating factors - Appeal dismissed - Decided in favour of Respondent.
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