Sebi slaps Rs 2 lakh fine on Tushar Oil

Market regulator Sebi today slapped a fine of Rs 2 lakh on Tushar Oil Foods for failing to obtain registration with its online complaint system and not addressing customer grievances.
The Securities and Exchange Board of India (Sebi) found that three investor grievances were pending against the company in the regulator's online complaint redressal system, SCORES, as on today.
The complaints pertain to non-receipt of share after transfer.
Besides, the company had not obtained the registration with its online investor redressal system SCORES within the stipulated time frame.
However, Tushar Oil Foods has obtained registration with Sebi on October 17 this year.

In 2012, Sebi had directed all listed companies to get SCORES authentication by September 14, failing which they would have to face enforcement action.

Consequently, Sebi has imposed a penalty of Rs 2 lakh on Tushar Oil Foods.
In a separate order, Sebi has imposed a penalty of Rs 2 lakh on Harish Gangaram Agarwal for not making annual shareholding disclosures within the stipulated timeframe in the matter of Mahesh Agricultural Implement and Steel Forgings Limited.
Sebi said Agarwal did not comply with Takeover regulation "within the stipulated time on one occasion for the financial year ended March 31, 2012 and that the delay in compliance was of 336 days.