Order in the matter of Norris Medicines Ltd.

Under section 11B of the Securities and Exchange Board of India Act, 1992 in the matter of Norris Medicines Ltd.

In respect of Norris Medicines Ltd. and its directors, namely, Mr. Sanjiv Kumar Shah, Mr. Navnit Jethabhai Patel, Mr. Vimal Dhirendra Shah and Mr. Sureshbhai Gulabchand Patel. 1. Norris Medicines Ltd. (hereinafter referred to as 'Norris' or ‘the company’) is a company incorporated under the Companies Act, 1956 having its registered office at Vikram Apartments, Plot No 7, Chakravarti Ashok Road, Kandivali (E), Mumbai 400 101, Maharashtra. The shares of the company are listed on Bombay Stock Exchange Ltd. (BSE), Delhi Stock Exchange (DSE) and Ahmedabad Stock Exchange Limited (ASE). It was observed from the website of Ministry of Corporate Affairs that there are four directors of the company, namely, Mr. Sanjiv Kumar Shah, Mr. Navnit Jethabhai Patel, Mr. Vimal Dhirendra Shah, and Mr. Sureshbhai Gulabchand Patel (hereinafter collectively referred to as "directors").

2. SEBI vide circular no. CIR/OIAE/1/2012 dated August 13, 2012 directed all companies whose securities are listed on stock exchanges to obtain SCORES authentication by September 14, 2012. However, certain companies including Norris did not obtain SCORES authentication within the time period specified in the aforementioned circular. Therefore, a public notice was issued on January 13, 2013, advising inter alia, the company to obtain SCORES authentication within seven days from the date of the advertisement, failing which SEBI would be constrained to initiate appropriate enforcement actions. The company obtained SCORES authentication on January 21, 2013 but, failed to redress the five pending complaints against the company.

3. Since Norris failed to redress the investor grievances, SEBI issued Show Cause Notices (SCNs) dated March 28, 2013 and April 26, 2013, to Norris and its directors, respectively, calling upon then to show cause as to why suitable directions including the direction to restrain them from accessing the securities market for a specified period should not be issued under section 11B of the SEBI Act.

In the matter of Norris Medicines Ltd.

4. In the meantime, the company vide its letter dated April 24, 2013 submitted that on verifying the status of SCORES complaints, it had come to know that SCN has been issued against it in relation to alleged non redressal of investor grievances. The company further submitted that it had not yet received the SCN and requested for a copy of the SCN. Further, vide an email dated April 25, 2013 the company providing a new address i.e. Norris Medicines Ltd., Plot no. 801/P, 901/4-5, GIDC Estate, Ankleshwar, Gujarat – 393002 for further correspondence. Accordingly, SEBI vide its letter date April 26, 2013 forwarded a copy of the SCN dated March 28, 2013 to the company.

5. Subsequently, SEBI has observed that the company has resolved all the investor complaints referred in the SCNs and there are no further investor grievances pending on SCORES against it.

6. Considering the 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 against Norris Medicines Ltd. and its directors, as contemplated in the SCNs issued to them. However, the noticees are advised to take utmost care and be vigilant in future, in respect of redressal of investor grievances. The SCNs are accordingly disposed of.

Date: September, 22nd 2014 RAJEEV KUMAR AGARWAL Place: Mumbai WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA