Sebi imposes Rs 5 lakh fine on Serene Industries

Market regulator Sebi has slapped Rs 5 lakh fine on Serene Industries for its

RELATED ARTICLES

alleged failure to resolve investor complaints within the stipulated time and submit the Action Taken Report (ATR) in this regard.

The Securities and Exchange Board of India (Sebi) has found that there were 34 investor grievances pending against Serene Industries in the regulator's online complaint redressal system, SCORES as December 19, 2013.

The company was asked by the market regulator to resolve the complaints within a stipulated time and submit the ATR for the same which the firm failed to do.

"...Noticee (Serene Industries)has neither redressed the investor grievances within stipulated time, in spite of being called upon by Sebi repeatedly in writing to do so nor it has submitted the ATR," Sebi said in its order yesterday.

Accordingly, Sebi has imposed a "consolidated penalty Rs 5 lakh on Serene Industries...For the failure to redress the investor grievances within stipulated time and failure to submit the ATR."

In a separate order, Sebi has disposed of the case against Nath Seeds saying that allegation of non-redressal of investor grievances against the company 'could not be established'.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • With RBI’s role diluted, we are moving closer towards a super regulator

    The government and the Reserve Bank of India (RBI) have signed a monetary policy framework agreement last month under which RBI will be committed to b

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

The making of a digital Bharat

Exactly 20 years ago, Nicholas Negroponte of MIT Media Labs ...

Rajgopal Nidamboor

The eternal radiance of our being

We sense, we sight, we smell, we touch, we hear, ...

Shona Adhikari

Art world celebrates two ‘new’ Cezannes

The focus moves once more to post-impressionist Paul Cezanne, who ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture