Sebi fines Abhinav Commercial for failing to get SCORES

Sebi today penalised Abhinav Commercial for its failure to get registered with the regulator's online complaint redressal system.
According to an order by the Securities and Exchange Board of India (Sebi), the company said "that there has been a delay and technical lapse in obtaining SCORES authentication in a timely manner".
Abhinav Commercial Ltd failed to get registered with Sebi's SCORES within the mandated time frame.
The markets regulator imposed a penalty of Rs 1.5 lakh on the company, saying that "in view of the foregoing, the alleged violation of the provisions of the aforesaid SEBI circular by the noticee(Abhinav Commercial) as alleged in the show cause notice stands established which in turn attracts imposition of penalty".

SCORES, launched by Sebi in June 2011, provides a centralised database of all complaints. Online movement of complaints to the listed companies concerned and upload of their Action Taken Reports (ATRs) are done through this system.
In a separate order, the regulator has ordered Tribhuvan

Agro Project and its eight directors to refund the investors' money raised by illegally issuing securities.
A Sebi probe found that the firm had raised Rs 9.25 crore by allotting redeemable preference shares (RPS) to 10,882 persons during 2007-11.
The company had also issued non-convertible debentures (NCDs) between 2007-09 and had raised Rs 50 lakh from 70 investors.

The entities have been restrained and prohibited from buying, selling or otherwise dealing in the securities markets for four years and the ban will continue till the completion of refunds to investors.