sebi:CO/CFD-DCR/1968/AO/VSS/13/2009
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Facts / Headnote
Consent terms approved; proceedings disposed of on payment of Rs.4,00,000/-
Parties
- Noticee
Holding
The Noticee's consent terms, recommending payment of Rs.4,00,000/-, were approved and the pending proceedings against the Noticee under the SEBI Act, 1992 were disposed of.
Full text
Page 2 of 3 Consent Order in respect of the aforesaid SCN before SEBI. Subsequently, the Noticee vide letter dated November 19, 2008 proposed revised consent terms, without admitting or denying the guilt and subject to clauses of the undertakings and waivers, submitting that he was willing to pay a sum of Rs.4,00,000/- (Rupees four lakh only) towards settlement charges in the matter. The terms as proposed by the Noticee was placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on December 12, 2008. The HPAC considered the facts and circumstances of the case, revised 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.4,00,000/- (Rupees four lakh only). 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 the HPAC.
Page 3 of 3 b. the Noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current consent proceedings.
3. In pursuance of the aforesaid consent terms, the Noticee has remitted a sum of Rs.4,00,000/- (Rupees four lakh only), vide Demand Draft No.123911 dated January 6, 2009 drawn on ICICI Bank Limited, Mumbai, towards the terms of consent in the matter.
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Source: SecMarx — sebi:CO/CFD-DCR/1968/AO/VSS/13/2009. 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.