2015 (7) TMI 220

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..... no investor loss and violation being not repetitive in nature have any impact on penalty amount imposed by SEBI - Held that:- The show cause notice was issued on January 21, 2013 and as on the date of the passing of the impugned order on January 07, 2014 there were three investor grievances which had remained to be redressed. This Tribunal in a number of cases has taken the view that the fact that .....

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..... aw Point Per: Justice J.P. Devadhar (Oral) 1. Appellant is aggrieved by the adjudication order passed by Securities and Exchange Board of India ( SEBI for short) on January 07, 2014 whereby penalty of ₹ 1 lac is imposed on the appellant under Section 15A(a) and Section 15C of the Securities and Exchange Board of India Act, 1992( SEBI Act for short). 2. Reason for imposing the .....

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..... on the appellant. 4. Representative of the appellant submitted that the appellant had obtained SCORES Login ID and Password, however, the same being misplaced, the appellant has applied for the same once again on December 17, 2013. It is further submitted that there being no investor loss and the alleged violation being not repetitive in nature, the penalty of ₹ 1 lac imposed being exorbi .....

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