Sebi bars 2 companies from capital markets

Both the companies had unresolved investors complaints pending since 2004. While Star Precision had 7 investors grievances pending, Teem Laboratories had 20 such cases unresolved."...the company has not shown any tenacity in resolving the investors' grievances and in spite of repeated advices of Sebi, the said investors' grievances are still pending, till date," the market regulator said in the orders.In August 2012, Sebi had directed all companies whose securities are listed on stock exchanges to obtain SCORES authentication by September 14, 2012.However, certain companies, including Star Precision and Teem Laboratories , did not obtain SCORES authentication within the time period specified following which a public notice was issued on January 13, 2013, advising them to obtain the same within seven days.Sebi had said that enforcement actions would be initiated against the companies if they fail to comply with the norms.