Market regulator Sebi has dropped charges of non-redressal of investors' complaints against Heatshrink Technologies saying the violation could not be established against the company.
It was alleged that Heatshrink had not resolved two investors' complaints pending for more than two years.
These complaints were related to non-receipt of shares after transfer and non-receipt of shares after conversion/ consolidation/splitting.
As per Sebi, the firm has made conscious efforts to redress the grievances and also sent as many as four letters to the complainants.
Securities and Exchange Board of India (Sebi) concluded that the allegations levelled against the company in respect of its failure to redress the two pending complaints are "not tenable".
Accordingly, in an order, Sebi said that the alleged violation by the "noticee does not stand established and the matter is accordingly disposed of.
