Sebi slaps penalty on Usha India,Dhampure Specialty Sugars,UniversalOffice Automation

The fines are imposed on Usha India Rs 26.33 lakh Dhampure Specialty Sugars Rs 10,000 and UniversalOffice Automation Rs 10,000 for their alleged failure in resolving investor grievances.

Last fiscal,12 companies were penalised by Sebi for such offences,as against five in the year before and three in 2010-11.

The total penalty imposed in 2012-13 was to the tune of Rs 50.15 Lakh as against Rs 53.30 lakh in 2011-12 and Rs 43 lakh in 2010-11.

Sebi said it imposed these monetary penalties against the companies 8220;through adjudication proceedings for their failure to redress investor grievances8221;.

Besides,Sabero Organics Gujarat Ltd had resolved all pending complaints against it and paid Rs 6.8 lakh as part of settlement fees to Sebi in 2012-13.

Additionally,in the last fiscal,Sebi had barred four companies 8212; Shukla Data Technics,Top Telemedia,International Hometex and Alpine Industries8211; and their respective directors from accessing the securities market for not resolving investor grievances.

The regulator restrained these companies and their directors 8220;from accessing the securities market and from buying,selling or dealing in securities directly or indirectly,in whatsoever manner,till all the investors8217; grievances against the company are resolved by them 8220;.

During 2011-12,Pantaloon Retail India Ltd had redressed all pending complaints and paid Rs 7.5 lakh under consent.

Also,the regulator had prohibited seven firms and 17 companies in 2011-12 and 2010-11 respectively from the security market for not resolving investor grievances.