sebi:CO/CFD/1003/AO/SD/02/2007

SEBI · SEBI · 2007-10-26 · Sandeep Deore, Adjudicating Officer

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Facts / Headnote

adjudication proceedings disposed via consent settlement

Holding

The adjudication proceedings pending against the noticee under the SEBI Act, 1992 in the matter of Hindustan Composites Limited are disposed of by this consent order upon payment of Rs.85,000 without admission or denial of guilt.

Full text

had also proposed to pay a small amount as administrative cost, if deemed appropriate by the High Powered Advisory Committee (HPAC). The terms as proposed by the noticee were placed before the HPAC meeting held on August 4, 2007 and after considering the facts and circumstances of the case, consent terms offered by the noticee and material put forth before the HPAC by SEBI, the HPAC recommended that the case may be settled on payment of Rs.75,000/- (Rupees Seventy Five Thousand) and administrative charges amounting to Rs.10,000/- (Rupees Ten Thousand).

This consent order is passed on the 26th day of December, 2007 and shall come into force with immediate effect. SANDEEP DEORE ADJUDICATING OFFICER

3. In terms of the noticee’s proposal 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 finding of fact or conclusion of law, the noticee has remitted a sum of Rs 85,000/- (Rupees Eighty Five Thousand only), vide Demand Draft No.144238 dated October 26, 2007 drawn on ICICI Bank Limited, Mumbai, towards the terms of consent in the matter.

Source: SecMarx — sebi:CO/CFD/1003/AO/SD/02/2007. 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.