sebi:AA/EAD-1/01/2019-20
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Facts / Headnote
Adjudication proceedings disposed of pursuant to settlement on payment of Rs. 51,00,000
Provisions invoked
- s. 23H
Regulations
- Reg. 25
- Reg. 9
- Reg. 23(1)
- Reg. 34
Parties
- PhillipCapital (India) Private Limited
Holding
The adjudication proceedings against PhillipCapital (India) Private Limited initiated vide Show Cause Notice E&AO/RA/JP/3959/2018 dated February 06, 2018 are disposed of in terms of Regulations 23(1) and 34 of the Settlement Regulations, 2018, pursuant to settlement on payment of Rs. 51,00,000.
Full text
Settlement Order in respect of PhillipCapital (India) Private Limited 1 BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA [ Settlement Order No: AA/EAD-1/01/2019-20 ]
Settlement Order in respect of PhillipCapital (India) Private Limited 2 SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘SEBI AO Rules’) and SCRA (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 2005 (hereinafter referred to as ‘SCRA AO Rules’) to inquire into and adjudge the aforesaid alleged violations. Pursuant to the transfer of Ms. Rachna Anand, the case was transferred to Shri Suresh B Menon vide order and communique dated May 10, 2018. Subsequent to the transfer of Shri Suresh Menon, the undersigned has been appointed as the Adjudicating Officer in the matter vide order dated March 18, 2019.
Settlement Order in respect of PhillipCapital (India) Private Limited 3 4. During the pendency of proceedings before the AO, the applicant filed an application dated March 26, 2018 for settlement (Application No. 3516/2018) in terms of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (hereinafter referred to as “Settlement Regulations, 2014”) which is repealed and replaced with SEBI (Settlement Proceedings) Regulations, 2018 with effect from January 01, 2019 (hereinafter referred to as “Settlement Regulations, 2018”). The applicant in its application without admitting or denying the findings of fact and conclusions of law, proposed to settle, through a settlement
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Source: SecMarx — sebi:AA/EAD-1/01/2019-20. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.