Adjudication order in respect of Awas Ayogen Vittnigam Limited in the matter of non redressal of investor grievances

Last updated: 21 October 2020

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Quick Summary

Awas Ayogen Vittnigam Ltd. has been subject to adjudication proceedings by the Securities and Exchange Board of India (SEBI) for failing to resolve investor grievances. The company neglected to use the SEBI Complaints Redress System (SCORES) and did not address complaints within the required 30-day timeframe, nor did it submit the necessary Action Taken Reports.

Court :
SEBI

Brief :
Securities and Exchange Board of India (hereinafter referred to as "SEBI") observed that Awas Ayogen Vittnigam Ltd. (hereinafter referred to as 'Noticee /Company/ By Name’) failed to redress various investor complaints pending against it. SEBI had issued Circulars viz., Circular No. CIR/OIAE/2/2011 dated June 3, 2011, SEBI Circular No. CIR/OIAE/1/2012 dated August 13, 2012 and SEBI Circular No. CIR/OIAE/1/2013 dated April 17, 2013 (hereinafter collectively referred to as "SEBI Circulars") dealing with the processing of investor complaints against listed companies through SEBI Complaints Redress System (hereinafter referred to as "SCORES"). These SEBI Circulars inter alia mandated listed companies to obtain SCORES authentication, view the complaints pending against them, redress them within 30 days of receipt and submit Action Taken Report (hereinafter referred to as "ATR") electronically in SCORES

Citation :
[ADJUDICATION ORDER NO. Order/AA/JR/2020-21/9412]

Daily Limit Reached