sebi:CFD-DCR/KGD/AO/SS/DRK/EAD-3/02/2009
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Facts / Headnote
Consent order disposing of pending adjudication proceedings against the Noticees; settlement amount of Rs.2,50,000/- remitted.
Provisions invoked
- s. 15
Regulations
- Reg. 7
- Reg. 11(1)
- Reg. 3(4)
Parties
- Mr. G Bakthavathsalam
- Ms. T Nikethana Shanmugha
Holding
The consent order disposes of the pending adjudication proceedings against the Noticees for alleged violation of Regulation 11(1) of the Takeovers Regulations, 1997, in settlement of the matter without admission or denial of guilt.
Full text
- 2 - v. Mr. G Bakthavathsalam K G House, Arts College Road, Coimbattore – 641018 vi. Ms. T Nikethana Shanmugha, 188 Race Course, Coimbattore – 641018
- 3 - consent terms, submitting that they were willing to pay a consolidated amount of Rs.2,25,000/- (Rupees Two Lakh and Twenty Five Thousand only) towards settlement charges plus Rs.25,000/- (Rupees Twenty Five Thousand only) towards administrative charges. The revised consent terms were placed before the High Powered Advisory Committee (hereinafter referred to as “HPAC”) and the HPAC considered the facts and circumstances of the case, proposed revised settlement terms offered by the Noticees and the other material brought before the HPAC. HPAC after deliberation recommended the case for settlement on the revised consent terms proposed by the Noticees.
- 4 - 6. This consent order is passed on the 26th day of February, 2009 and shall come into force with immediate effect.
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Source: SecMarx — sebi:CFD-DCR/KGD/AO/SS/DRK/EAD-3/02/2009. 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.