Adjudication Order in respect of New India Retailing and Investment Ltd

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Last updated: 29 September 2020
Quick Summary
This adjudication order concerns New India Retailing & Investment Ltd (NIRIL) for failing to resolve an investor complaint within the stipulated 30 days via the SEBI Complaints Redress System (SCORES). Although NIRIL initially failed to update their Action Taken Report (ATR) on time, they later submitted the necessary documentation and resolved the investor's issues regarding unpaid dividends and share certificates. The Adjudicating Officer found that NIRIL had taken the necessary steps to resolve the complaint and therefore decided not to impose a penalty.

Court :
SEBI

Brief :
UNDER SECTION 15-I OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995.

Citation :
ADJUDICATION ORDER NO. Order/KS/AE/2020-21/9198

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