sebi:CO/CFD-DCR/1945/AO/VSS/65/2009
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Facts / Headnote
Consent order disposing of pending proceedings against the Noticee on payment of settlement charges and administrative expenses
Holding
The consent order disposes of the proceedings pending against the Noticee under the Securities and Exchange Board of India Act, 1992, on payment of Rs.2,00,000 towards settlement charges and Rs.10,000 towards administrative expenses. The order is passed without prejudice to SEBI's right to take enforcement actions if representations made are untrue or undertakings are breached.
Full text
Page 2 of 2 Committee (hereinafter referred to as ‘HPAC’) on January 5, 2009. The HPAC considered the facts and circumstances of the case, consent terms offered by the Noticee and the material brought before it by SEBI and recommended that the case may be settled on payment of Rs.2,00,000/- (Rupees two lakh only) towards settlement charges and Rs.10,000/- (Rupees ten thousand only) towards administrative expenses in the matter. The recommendations of HPAC were placed before the two Whole Time Members of the Board who have agreed to the terms of consent as recommended by HPAC.
3. The acceptance of consent proposal was communicated to the Noticee vide letter dated February 6, 2009. In pursuance of the aforesaid consent terms, the Noticee has remitted a sum of Rs.2,10,000/- (Rupees two lakh ten thousand only), vide Demand Drafts No.011924 dated February 27, 2009 drawn on HDFC Bank Ltd., Mumbai towards the terms of consent in the matter.
4. In view of above, it is hereby ordered that, i) This consent order disposes of the said proceedings pending against the Noticee under Securities and Exchange Board of India Act, 1992 and ii) Passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing / reopening of the pending proceedings against the Noticee, if SEBI finds that a. any representation made by the Noticee in the consent proceedings is subsequently discovered to be untrue. b. the Noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current consent proceedings.
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Source: SecMarx — sebi:CO/CFD-DCR/1945/AO/VSS/65/2009. 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.