sebi:CFD/MIPCO/AO/DRK-AKS/EAD-3/CO-74/02-15
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Facts / Headnote
Disposed of by consent settlement
Regulations
- Reg. 17
- Reg. 15
Parties
- MIPCO Investments Pvt. Ltd.
Holding
This settlement order disposes of the adjudication proceedings initiated against MIPCO Investments Pvt. Ltd. on payment of Rs. 2,12,500 towards settlement charges without admission or denial of guilt.
Full text
Page 2 of 3 of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014. 4. Pursuant to the said application, the noticee’s authorized representatives, Shri S.B. Desai and Shri Parag Sawant attended a meeting with the Internal Committee on Consent on 23.09.2014 and the revised settlement terms were settled at an amount of ` 2,12,500/- (Rupees Two Lakh Twelve Thousand Five Hundred Only) towards settlement charges. The settlement terms were placed before the High Powered Advisory Committee on Consent (hereinafter referred to as ‘HPAC’) on 28.10.2014 and the HPAC considered the facts and circumstances of the case, the proposed settlement terms offered by the noticee and other material brought before the Committee. HPAC after deliberations recommended the case for settlement on the consent terms proposed by the noticee which was approved by the panel of Whole Time Members of SEBI on 22.12.2014.
Page 3 of 3 proceedings are subsequently discovered to be untrue. b. The noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current settlement proceedings.
5. In terms of the proposal of the noticee for the sole purpose of settling the matter on hand and without admission or denial of guilt on the part of the noticee to the findings of fact or conclusions of law, the noticee has remitted a sum of ` 2,12,500/- (Rupees Two Lakh Twelve Thousand Five Hundred Only) favoring SEBI vide Cheque No. 054419 dated 29.01.2015 drawn on HDFC Bank Ltd. towards the terms of consent in the matter.
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Source: SecMarx — sebi:CFD/MIPCO/AO/DRK-AKS/EAD-3/CO-74/02-15. 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.