Sebi Disposes of Charges Against Hotline Teletube

Market regulator Sebi or Securities and Exchange Board of India today disposed of charges against Hotline Teletube & Components in a case related to redressal of investor grievances.

In a ruling, Securities and Exchange Board of India (Sebi) said that the allegations against Hotline Teletube & Components "is not established" and "accordingly the present adjudication proceeding is disposed of".

"From the material available on record, it is noted that as stipulated in various Sebi circulars, the noticee was required to obtain SCORES authentication latest by September 14, 2012 whereas the noticee obtained SCORES authentication on May 23, 2012 that is before the timeline stipulated by the Sebi," the market regulator said.

"Therefore, the allegation in this regard does not stand established against the noticee," it added.

SCORES is an online complaint system.

Further, Sebi observed that Hotline Teletube had taken initiative to redress the investor grievance against it.

"The complaint was finally disposed of on May 3, 2013 since there was no response from the complainant despite repeated reminders sent to him," Sebi said.

As per Sebi norms, all listed companies are required to get SCORES authentication, failing which they would have to face enforcement action.

SCORES which was launched by Sebi in June 2011 provides a centralised database of all complaints, online movement of complaints to the concerned listed companies and online upload of Action Taken Reports by the concerned companies.