(PTI)
Sebi has slapped a total fine of Rs 17.25 lakh on two firms for failing to obtain authentication with its online complaint redressal system along with redressing investor grievances within the stipulated time. In two separate orders dated July 31, the regulator said Eastern Mining and Allied Industries, and Orissa Industries have neither obtained SCORES (SEBI Complaints Redressal System) authentication within the time period — September 2012 — nor have they done it subsequently.
Moreover, both the firms failed to redress investor grievances within the stipulated time of 30 days as required under SCORES, the regulator noted. ingly, a fine of Rs 12 lakh was imposed on Eastern Mining and Rs 5.25 lakh on Orissa Industries. In June 2011, the regulator had directed all listed companies to obtain SCORES authentication within the stipulated time.
