Market regulator Sebi has dropped charges of non-redressal of an investor's complaint against Triumph International Finance, saying the violation could not be established against the company.
It was alleged that the company had not resolved a pending investor complaint and failed to submit the Action Taken Report (ATR) through SCORES, Sebi's complaint redressal system.
Securities and Exchange Board of India (Sebi) said that the complaint was made against erstwhile Empire Medicines in 1995 with regard to non-receipt of share certificate after transfer. Empire Medicines amalgamated with Oxford International Finance India and the name of the company again changed to Triumph.
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The complaint, made prior to the amalgamation, was against erstwhile Empire Medicines. Also, the present management of Triumph is different from the management of Empire Medicines.
Further, the complainant had not furnished relevant details relating to his complaint such as certificate number, folio number, among others.
Accordingly, in an order, Sebi said that the alleged violation by the company does not stand established and the matter is disposed of.
