2015 (6) TMI 73

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....12.2014 and 16.02.2015. Representative of the appellant submitted that he could not attend the last hearing in time as he was held up in traffic jam. He submits that by consent the appeal be restored and by consent the restored appeal be taken up for hearing forthwith. Accordingly, by consent the appeal is restored and taken up for hearing. 2. Appellant is aggrieved by the adjudication order dated 17.07.2014 whereby penalty of Rs. 1 lac is imposed on the appellant under section 15C of the Securities and Exchange Board of India Act, 1992 ('SEBI Act' for short). 3. Reason for imposing penalty of Rs. 1 lac is that inspite of several circulars and advertisements the appellant has failed to obtain SEBI Complaints Redress System (SCORES) Lo....

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.....2012 enforcement action would be taken. Inspite of the said direction, the appellant failed and neglected to get the SCORES Login ID and password within time stipulated in the Circular dated 13.08.2012. 7. Thereafter SEBI issued two advertisements dated 06.10.2012 and 21.10.2012 in the newspapers in respect of companies which had not obtained SCORES Login ID and password and advised those companies to get the SCORES authentication expeditiously. However, no steps were taken in that behalf. 8. It is only after SEBI notice dated 21.03.2014 the appellant chose to apply for and obtain SCORES registration on 05.04.2014. Fact that the appellant on receipt of notice took immediate steps to obtain SCORES Login ID and password and also took s....