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E-mail ID will not be published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

  • Tax collections are a more reliable indicator of economic growth

    Direct taxes collection figures are supposed to reflect the health of corporate bottomlines as well as the state of the overall economy.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Learning the art of learning styles

Recently, I met a group of new teachers from different ...

Rajgopal Nidamboor

The essence of creative energy

Creativity or originality isn’t the privilege of working minds, even ...

Gautam Gupta

Indian designers can learn a lot from Benetton

I was reading an article in the magazine about Benetton ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture