Regulations
SEBI imposes Rs5 lakh fine on Serene Industries

SEBI said it found 34 investor grievances pending against Serene Industries in its online complaint redressal system, SCORES as 19 December 2013

Market regulator Securities and Exchange Board of India (SEBI) has slapped a fine of Rs5 lakh on Serene Industries for the company's alleged failure to resolve investor complaints within stipulated time and submit its action taken report (ATR).

 

SEBI said it found that there were 34 investor grievances pending against Serene Industries in its online complaint redressal system, SCORES as 19 December 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 Serene Industries 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.

 

Accordingly, SEBI has imposed a "consolidated penalty Rs5 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'.

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COMMENTS

CA PRADEEP AGARWAL

3 years ago

Is the fine ok, or peanuts

REPLY

sathyacumaran

In Reply to CA PRADEEP AGARWAL 3 years ago

sathyacumaran
the sebi should have cancelled their license and debarred from stock market but instead of fining just 5 lakhs for this we donot know how crores of ruppess does the serene industries had bribed the sebi officials without this bribing the sebi would not have conceded for this small fine and this has to be investigated i request ML to probe into it

CA PRADEEP AGARWAL

In Reply to sathyacumaran 3 years ago

I personally feel the fine should be fixed by LAW and all Discretionary powers should be withdrawn/ or a very 2 incorruptible Head named to head the various Govt organisations.

sathyacumaran

3 years ago

sathya cumaran
my case is pending with sebi and bse nse against IIFL where i have solid proof but inspite of this the neither the sebi nor nse bse had taken up the case likewise IIFL had also used various threatening techniqus such as sending an police from crime branch not send mails to the directors to the company and lodge the company in any other platform apart from these platform we can go but the first question the supreme court would ask have you approached the sebi or nse bse even we say that would not be taken as such our next move would be to expose the who poor is indian administration to international community we are going to place this issue in international media and channel expose mal administration in capital market segment for which RBI sebi MCA and ministry of finance are culprits would be exposed as eye opener for foreigners in not invest in countries like india this we have to take as last step of denial justice

INS Sindhuratna: Bodies of two missing officers recovered

The two officers identified as Lt Commander Kapish Muwal from Delhi and Lt Manoranjan Kumar from Jamshedpur, died of asphyxiation after inhaling toxic smoke aboard INS Sindhuratna

The two missing Naval officers in the INS Sindhuratna mishap have been found dead.

 

In a statement, the Navy said, “The two officers who were earlier declared missing have been located in the compartment and after examination by medical officers, both were declared dead”.

 

The two officers identified as Lieutenant Commander Kapish Muwal from Delhi and Lieutenant Manoranjan Kumar from Jamshedpur, died of asphyxiation after inhaling toxic smoke aboard the submarine.

 

The Navy earlier Thursday continued its search for the two officers, who were missing after submarine INS Sindhuratna had a mishap off the Mumbai coast, leaving seven sailors seriously ill.

 

The submarine was brought back to the Mumbai dock today morning.

 

Meanwhile, the condition of the injured personnel, who had inhaled smoke and were airlifted to the naval hospital INS Ashwini, is reported to be stable.

 

INS Sindhuratna was at sea off Mumbai for routine training and workup (inspection) in the early hours Wednesday when smoke was reported in the sailors' accommodation, in compartment number three, by the submarine.

 

Hours after the mishap and in the wake of a spate of accidents involving the Naval warships in the recent past, Navy Chief Admiral DK Joshi had resigned taking moral responsibility.

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Rahul Gandhi disapproves of Khurshid's 'impotent' remark on Narendra Modi

Rahul Gandhi said he does not appreciate the 'impotent' remark made by Salman Khurshid against Narendra Modi

Congress vice-president Rahul Gandhi on Thursday said he does not appreciate the 'impotent' remark made by union minister Salman Khurshid against Narendra Modi in the context of the 2002 Gujarat riots.

 

“I do not appreciate this kind of comment... the kind of language,” Gandhi said disapproving Khurshid’s remark.

 

The Congress leader was speaking to reporters at the AICC headquarters after a meeting of the campaign committee.

 

Khurshid, the external affairs minister, had stoked a controversy by calling Bharatiya Janata Party (BJP)s prime ministerial candidate Modi as 'impotent' and insisted that he did nothing wrong as there was no other appropriate word to describe the Gujarat chief minister in the context of the 2002 Gujarat riots.

 

On Tuesday, the Minister had said, “We don’t accuse you (Modi) of killing people... Hamara aarop hai ki tumnapunsak’ (impotent) ho. (Our accusation is that you are impotent). You couldn’t stop the killers.”

 

“I am not his doctor. I cannot physically examine him. So I have no business to be saying what his physical condition is. The word impotent is used in political vocabulary to show that somebody is incapable of doing something,” Khurshid had said.

 

“Either you admit you are strong and fully capable and what had happened was done deliberately or say that I made lot of efforts but did not have the capability (to stop the riots). If there is no capability (to deal with) what is it called? Is it not called impotency? If it is called impotency and I said that then what the problem is,” he had said.

 

Rebutting BJP’s criticism for his comment, Khurshid had said if they do not understand the vocabulary then he can send a dictionary to them.

 

BJP leaders Arun Jaitley and Ravi Shanker Prasad had slammed Khurshid, saying some UPA ministers were trying to grab air time through foul language.

 

The party had asked Khurshid to apologise for the regrettable and shameful comment. BJP leaders said Congress and its leaders have forgotten manners and etiquettes and asked if Sonia Gandhi approved of this comment.

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COMMENTS

Hemant

3 years ago

How can he approve this remark,which is the sole property of UPA:)

MG Warrier

3 years ago

Before parting with the dictionery, better look for more socially acceptable words to explain one’s thoughts. Though, need for a ‘POLITICAL DICTIONARY’ is growing, as one who follows Gandhian teachings and considering the criticism from living Gandhis, occasionally, when appropriate words are not immediately available from memory, SILENCE will help…Learn from MMS.

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