sebi:CO/CFD-DCR-I/1803/AO/VSS/80/2009
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Facts / Headnote
Consent terms accepted; proceedings disposed of on payment of Rs.2,50,000/- as settlement charges
Holding
The consent order disposes of the proceedings pending against the Noticee under the Securities and Exchange Board of India Act, 1992 upon payment of Rs.2,50,000/- towards settlement charges, as recommended by HPAC and agreed to by the Whole Time Members of the Board.
Full text
Page 2 of 2 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.2,50,000/- (Rupees two lakh fifty thousand only) towards settlement charges 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 April 15, 2009. In pursuance of the aforesaid consent terms, the Noticee has remitted a sum of Rs.2,50,000/- (Rupees two lakh fifty thousand only), vide Demand Draft No. 572897 dated April 24, 2009 drawn on Bank Of Baroda , Mumbai for Rs.2,50,000/- 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-I/1803/AO/VSS/80/2009. 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.