sebi:CO/CFD-DCR/2117-2120/AO/SD/23/2009
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Facts / Headnote
Adjudication proceedings disposed of on settlement terms approved by HPAC and panel of Whole Time Members of SEBI
Holding
The consent order disposes of the pending adjudication proceedings against all Noticees under the SEBI Act, 1992, on payment of Rs. 1,25,000/- (Rs. 1,00,000/- settlement charges and Rs. 25,000/- administrative expenses), without admission or denial of guilt.
Full text
Page 2 of 2 charges and Rs 25,000/- (Rupee Twenty Five Thousand only) towards administrative expenses of the above said adjudication proceedings. The terms as proposed by all Noticees were placed before the High Powered Advisory Committee (HPAC) meeting held on March 30,2009 and after considering the facts and circumstances of the case, the HPAC recommended that the case may be settled on payment of Rs. Rs. 1,00,000/- (Rupees One Lakh only) towards settlement charges and Rs 25,000/- (Rupee Twenty Five Thousand only) towards administrative expenses, which has been approved by the panel of Whole Time Members of SEBI on April 28, 2009
4. In terms of Noticees’ proposal for the sole purpose of settling the matter on hand and without admission or denial of guilt on the part of all the Noticees to the finding of fact or conclusion of law, all the Noticees has remitted a sum of Rs. 1,25,000/- (Rupees One Lakh and Twenty Five Thousand only), vide Demand Draft No. 007234 dated May 19, 2009 drawn on Allahabad Bank, Mumbai towards the settlement charges in the aforesaid matter.
5. In view of the above, it is hereby ordered that: (a) this consent order disposes of the said adjudication proceedings pending against all the Noticees under the Securities and Exchange Board of India Act, 1992 and
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Source: SecMarx — sebi:CO/CFD-DCR/2117-2120/AO/SD/23/2009. 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.