sebi:CO/CFD/699/159/2009
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Facts / Headnote
SEBI shall not take enforcement action against the applicant for failure to comply with the Regulation in the matter of Navkar Builders Limited, subject to conditions.
Holding
SEBI agreed not to initiate enforcement action against the applicant for its failure to comply with the applicable Regulation in the matter of Navkar Builders Limited, in exchange for a settlement payment of Rs.50,000/- made without admitting or denying guilt.
Full text
Page 2 of 2 3. Accordingly, the applicant, without admitting or denying guilt, has remitted a sum of Rs.50,000/- (Rupees fifty thousand only) towards settlement charges vide demand draft no. 772239 dated January 6, 2009 drawn on State 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 Regulation in the matter of Navkar Builders Limited.
5. This order is without prejudice to the right of SEBI to initiate enforcement actions, including commencing or reopening of the proceedings pending against the applicant, 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 clauses/conditions of undertakings/ waivers filed during this consent proceeding.
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Source: SecMarx — sebi:CO/CFD/699/159/2009. 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.