In its order SEBI disposed off the notices saying there are no complaints pending against Jayant Vitamins and three of the company's directors
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has disposed of show-cause notices issued to Jayant Vitamins Ltd and its three directors, following the entities resolving investors' complaints, reports PTI.
The SEBI had issued show cause notices in 2009 after it was found that a large number of complaints by investors remained unresolved.
In its order SEBI disposed off the notices saying there are no complaints pending against the company.
In its order, SEBI said: "...As on 12 September 2012, there are no complaints pending against the company. Since the company had resolved all pending investors' complaints that were the cause for the issuance of the show cause notices (SCNs)as well as other complaints."
"...hereby dispose of the show cause notice issued against the company, Jayant Vitamins and the show cause issued to its directors, Projesh Kumar Ray, Lalit Kumar Mishra and Hiten Purshottam Mange, accordingly," it added.
The regulator in 2008 had asked Jayant Vitamins to resolve all the 173 investors' grievances pending against it within a period of 30 days. The company, however, failed to redress the investors' grievances.
Consequently, SEBI had issued a Show Cause Notice in 2009 to the company "advising it to show cause as to why it should not be restrained from accessing the securities market and prohibited from dealing in securities till all pending investors' grievances against the it are resolved."
Besides, SEBI had also issued notice to the company's directors - Projesh Kumar Ray, Lalit Kumar Mishra and Hiten Purshottam Mange.