SCORES violation: Sebi fines Bhilai Engineering Corporation Rs 1 lakh

Markets regulator Sebi has fined Bhilai Engineering Corporation Ltd for failing to obtain SCORES authentication.

SCORES is the regulator's online platform designed to help investors lodge their complaints against listed companies pertaining to securities market. The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 1 lakh on the firm, the regulator said in an order.

The regulator, through a circular in December 2014, had consolidated all the similar circulars issued by it previously and directed all the companies, whose securities were listed on stock exchanges, to obtain SCORES authentication within stipulated time.

However, Bhilai Engineering failed to obtain SCORES authentication within the stipulated timeline and thereby is liable for monetary penalty, Sebi said in an order dated April 30.

"The noticee (Bhilai Engineering) did not pay heed to any instructions of Sebi passed through issuance of various circulars and notices in this matter," Sebi noted.

Launched in 2011, SCORES helps investors view, track and follow up the action taken on their grievances.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)