sebi:CFD/WYEL/AO/SBM-ASR/EAD-3/CO-02/2015
Facts / Headnote
Adjudication proceedings disposed of via settlement under Regulation 15(1)
Regulations relied on
- SEBI (SAST) Regulations, 1997 — 8(3)
Parties
- M/s High Ground Enterprises Limited
Holding
This settlement order disposes of the adjudication proceedings initiated against M/s High Ground Enterprises Limited upon payment of Rs 2,59,250 towards settlement charges without admission or denial of guilt.
Full text
Page 2 of 3 3. Pending adjudication proceedings, the noticee submitted a consent application no. 2867/2014 which was received by SEBI on August 20, 2014 along with the undertaking in the format prescribed by SEBI for settlement in the matter in terms of Regulations 3 (1) and 3 (2) of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014.
Page 3 of 3 7. In view of the above, it is hereby ordered in terms of Regulation 15 (1) of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 that: i. this settlement order disposes of the said adjudication proceedings initiated against the Noticee as mentioned in paras 1 and 2 above and ii. passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing / reopening of the pending proceedings against the noticee, if SEBI finds that: a. Any representations made by the noticee in the settlement 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.
4. Consequent to the transfer of Shri D Ravikumar, the Competent Authority has appointed the undersigned as Adjudicating Officer on June 22, 2015 to dispose of the current Settlement Proceedings.
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Source: SecMarx — sebi:CFD/WYEL/AO/SBM-ASR/EAD-3/CO-02/2015. 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.