Академический Документы
Профессиональный Документы
Культура Документы
Adjudication Order in respect of Praneel Corporate Services Limited (Now merged into Trident Limited)
Page 1 of 7
April 28, 2015
Corporate
Services
Limited
informing
about
the
Adjudication Order in respect of Praneel Corporate Services Limited (Now merged into Trident Limited)
Page 4 of 7
April 28, 2015
its existence. I also note that the said complaint was received by SEBI
in August 2011 and by then the name of Praneel Corporate Services
Limited had already changed to Trident Infotech Limited and within
one month Trident Infotech Limited got amalgamated into Trident
Limited. The Noticee has also submitted that it had taken SCORES
authentication in the name of Trident Limited on December 26, 2011
with user id A00024; which is much before initiation of the present
Adjudication Proceedings.
12. Looking at the entire gamut of evidence produced before me and
taking into account the facts of the case, I am of the opinion that the
allegation of not resolving the investor grievance, as alleged in the
SCN, does not stand established.
ISSUE 2: Whether the Noticee is liable for monetary penalty under
Section 15C of the SEBI Act, 1992?
13. The provisions of Section 15C of the SEBI Act, 1992, read as under:
15C Penalty for failure to redress investors' grievances: If any
listed company or any person who is registered as an intermediary,
after having been called upon by the Board in writing, to redress the
grievances of investors, fails to redress such grievances within the
time specified by the Board, such company or intermediary shall be
liable to a penalty of one lakh rupees for each day during which such
failure continues or one crore rupees, whichever is less.
14. Since the allegation against the Noticee of not resolving the investor
grievance pending against it has not been established; therefore, the
Noticee is not liable for monetary penalty under Section 15C of the
SEBI Act, 1992.
Adjudication Order in respect of Praneel Corporate Services Limited (Now merged into Trident Limited)
Page 6 of 7
April 28, 2015
Jayanta Jash
Adjudicating Officer
Adjudication Order in respect of Praneel Corporate Services Limited (Now merged into Trident Limited)
Page 7 of 7
April 28, 2015