Order in respect of Prime Tea Plantation

WTM/RKA/EFD/DRA II/69/2016 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA ORDER UNDER SECTION 11B OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 In respect of Prime Tea Plantation and Industries Limited 1. Prime Tea Plantation and Industries Limited (hereinafter referred to as ‘the company’) is a listed company having its office address at 10 Sea View Building, Juhu Tara Road, Santacruz (W), Mumbai, Maharashtra - 400 049. 2. SEBI vide its circular no. CIR/OIAE/1/2012 dated August 13, 2012 directed all listed companies to obtain SEBI Complaints Redress System (SCORES) authentication by September 14, 2012 and to take appropriate necessary steps within seven days of receipt of complaints through SCORES, so as to resolve the complaint within thirty days of its receipt. 3. However, certain companies, including Prime Tea Plantation and Industries Limited did not obtain SCORES authentication within the time period specified in the aforementioned circular, a public notice was issued on January 13, 2013, advising inter alia the companies to obtain SCORES authentication within seven days from the date of the advertisement, failing which SEBI would be constrained to initiate appropriate enforcement actions. However, the company still failed to obtain SCORES authentication and resolve pending investor complaints. 4. Since the company did not obtain SCORES authentication and failed to redress five investor grievances, SEBI issued Show Cause Notices (SCN) dated March 28, 2013 to the company calling upon it to show cause as to why suitable directions including direction to restrain it from accessing the securities market for a specified period should not be passed under section 11B of the SEBI Act. The SCN returned undelivered from registered office address. Accordingly, on April 26, 2016 the SCN was served through affixture on the registered office address of the company.

In the matter of Prime Tea Plantation and Industries Limited

5. Opportunity of personal hearing was granted to the company on June 09, 2016. The notice to this effect was served through affixture on the company's registered office address. However the company chose not to appear for the personal hearing on the scheduled date. 6. I note that sufficient opportunities have been granted to the company and it is not keen to avail the same. I further note that the company has not even filed any written reply/submission to the SCN. In view of these facts and circumstances, I deem it appropriate to decide the matter on the basis of material available on record. 7. SEBI has verified and confirmed that as on June 23, 2016 there is no investor complaint pending against the company for redressal. However, the company has not yet obtained SCORES authentication, as required under SEBI circular dated August 13, 2012.

8. Considering the above facts and circumstances of the case, I am of the view that there is no need to pass any direction under section 11B of the SEBI Act, 1992 against Prime Tea Plantation and Industries Limited as contemplated in the SCN issued to it. However, the company should obtain SCORES authentication within one month of this order failing which SEBI may take appropriate action including adjudication proceedings in accordance with law.

9. The SCN is accordingly disposed of.

Sd/- Date: June 29th, 2016 RAJEEV KUMAR AGARWAL Place: Mumbai WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA