sebi:CO/EFD/89/JAN/2016
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Settled
Holding
The violation of Regulations 7(1A) read with 7(2) of the SAST Regulations, 1997 was settled according to the approved settlement terms upon payment of Rs. 2,00,000, and SEBI shall not initiate any enforcement action against the applicant for the said violation.
Full text
2015, considered the settlement terms proposed by the applicant and recommended the case for settlement upon payment ofRs. 2,00,000/- (Rupees Two lakhs only) towards settlement charges and the same was approved bythe Panel of Whole Time Members.Thereafter, the same was communicated to the applicant, vide email dated December 18, 2015.
4. Accordingly, the applicant has, vide Demand Draft No. 801431 dated December 29, 2015 drawn on Standard Chartered Bank, remitted a sum of Rs. 2,00,000/- (Rupees Two lakhs only) towards the settlement charges.
5. In view of the above, the violation of the provisions ofRegulations 7(1A) read with 7(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, are settled according to the aforesaid settlement terms by way of this order and the Securities and Exchange Board of India shall not initiate any enforcement action against the applicant for the said violation.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:CO/EFD/89/JAN/2016. 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.