sebi:CO/643/185/2009
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Facts / Headnote
Consent settlement - SEBI shall not take any enforcement action for the covered non-compliance
Holding
SEBI ordered that it shall not take any enforcement action against the applicant for its failure to comply with the aforesaid Regulations in the matter of Hira Ferro Alloys Limited pursuant to consent.
Full text
Page 2 of 2 3. Accordingly, the applicant, without admitting or denying the guilt, has remitted a sum of Rs.50,000/- (Rupees fifty thousand only) comprising Rs.25,000/- towards settlement charges and Rs.25,000/- towards administrative expenses vide demand draft No.764742 dated January 9, 2009 drawn on Bank of India payable at Mumbai.
4. In view of the above, it is hereby ordered that SEBI shall not take any enforcement action against the applicant for its 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 proceedings against applicant for the aforesaid non-compliance if: a. any representation made by the applicant in this consent proceeding is subsequently discovered to be untrue; or b. the applicant breaches 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/643/185/2009. 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.