sebi:CO/642/184/2009
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Facts / Headnote
Consent settlement - SEBI shall not take enforcement action for the non-compliance
Holding
SEBI ordered that it shall not take any enforcement action against the applicants for failure to comply with the aforesaid Regulations in the matter of Hira Ferro Alloys Limited on consent basis without admission of guilt.
Full text
Page 2 of 2 3. Accordingly, the applicants, without admitting or denying the guilt, have remitted a sum of Rs.50,000/- (Rupees fifty thousand only) comprising Rs.25,000/- towards settlement charges and Rs.25,000/- towards administrative charges vide demand draft No.104908 dated January 13, 2009 drawn on Oriental Bank of Commerce payable at Mumbai.
4. In view of the above, it is hereby ordered that SEBI shall not take any enforcement action against the applicants for their failure to comply with the aforesaid Regulations in the matter of Hira Ferro Alloys Limited. This order is without prejudice to the right of SEBI to initiate enforcement actions, including commencing appropriate enforcement proceedings against applicants for the aforesaid non-compliance if: a. any representation made by the applicants in this consent proceeding is subsequently discovered to be untrue; or b. the applicants breach any of the consent terms or undertakings filed in this consent proceeding.
5. This consent order is passed on this day, the 24th of March, 2009 and shall come into force with immediate effect. M. S. Sahoo Whole Time Member
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Source: SecMarx — sebi:CO/642/184/2009. 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.