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Naina Semiconductor Limited Versus Securities and Exchange Board of India, Mumbai

Penalty under Section 15A(a) and Section 15C of the SEBI Act, 1992 - Failed to follow up or reset SEBI Complaints Redress System (SCORES) Login ID and Password - Failed to update the status of complaints in SCOREs within time - whether arguments like .....

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2014 there were three investor grievances which had remained to be redressed. This Tribunal in a number of cases has taken the view that the fact that no investor has suffered and that the violation is not repetitive cannot be a ground to escape pen .....

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Officer of SEBI has imposed penalty of ₹ 1 lac as against the penalty of ₹ 1 crore imposable under the SEBI Act, which cannot be said to be unreasonable or excessive. - Decided against the appellants. - Appeal No. 221 of 2015 - Dated:- 9- .....

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ggrieved by the adjudication order passed by Securities and Exchange Board of India ( SEBI for short) on January 07, 2014 whereby penalty of ₹ 1 lac is imposed on the appellant under Section 15A(a) and Section 15C of the Securities and Exchange .....

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System ( SCORES for short) Login ID and Password and also failed to update the status of complaints in SCORES database within the stipulated time. 3. In the present case, since the appellant has failed to take steps for redressing the investor griev .....

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to redress the investor grievances. As no action was taken, by the impugned order, penalty of ₹ 1 lac is imposed on the appellant. 4. Representative of the appellant submitted that the appellant had obtained SCORES Login ID and Password, howev .....

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osed being exorbitant and excessive be quashed and set aside. 5. We see no merit in the above contentions. Admittedly, the show cause notice was issued on January 21, 2013 and as on the date of the passing of the impugned order on January 07, 2014 th .....

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