Mumbai: Sebi today barred Tria Fine Chem Ltd from securities market for failing to redress investor complaints as well as for not obtaining authentication in the regulator’s online complaint redressal system, SCORES.
The regulator, in an order, has prohibited “Tria Fine Chem Ltd from accessing the securities market and from buying, selling or dealing in securities, directly or indirectly, in whatsoever manner, till all the investors’ grievances against it are resolved and it obtains SCORES authentication.”
According to Securities and Exchange Board of India (Sebi), as many as six investor grievances are pending against the company pertaining to non-receipt of dividend as well as share certificates after transfer among others.
Some of the investors’ complaints are pending unresolved since the year 1998.
“However, the company has not shown any tenacity in resolving the investors’ grievances and in spite of repeated advices of Sebi, the said investors’ grievances are still pending, till date,” the regulator noted.
Besides, the company has not obtained the SCORES authentication as advised by Sebi in January 2013 year to all the companies.