Market regulator Sebi has imposed a penalty of Rs 1 lakh on Carewell Hygiene Products for failing to obtain registration with its online complaint system as well as for not addressing investors' grievances.
According to the Securities and Exchange Board of India (Sebi), 17 investor grievances are pending against the company.
The regulator noted that the company has not obtained the registration with its online investor redressal system -- SCORES -- within the stipulated time frame.
The company was penalised for not resolving the pending investor grievances against it, even after repeated reminders from Sebi to do so.
In a separate order, Sebi has disposed of a case against Orient Vegetexpro (now merged with Jain Irrigation Systems) saying there was no complaints pending against the company.
As per Sebi, Jain Irrigation has already obtained authentication with the regulator's online complaint system and investor grievances stands resolved.
"Further, Sebi has observed that there are no other complaints pending on SCORES against Jain Irrigation Systems," the order added.
SCORES, launched by Sebi in June 2011 provides a centralised database of all complaints, online movement of complaints to the concerned listed companies, online upload of Action Taken Reports (ATRs) by the concerned companies.
In August 2012, Sebi had directed all listed companies to get SCORES authentication by September 14 of the same year. Subsequently in April 2013, it had granted further 30 days time to obtain authentication, failing which the companies would have to face enforcement action.
