sebi:CO/EFD/DRA3/97/September/2016
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Facts / Headnote
Settlement approved; adjudication proceedings disposed of
Regulations
- Reg. 17
Holding
SEBI approved the settlement of pending adjudication proceedings against the applicants upon payment of Rs.2,00,000 towards settlement charges, and disposed of the said proceedings.
Full text
3. Pursuant to the Internal Committee meeting on April 28, 2016, vide letter dated April 28, 2016, the applicants proposed the revised consent terms to settle the aforesaid violation by offering to pay a sum of Rs.2,00,000 (Rupees Two Lakhs only) towards settlement charges .
8. In terms of Regulation 17 of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014, copies of this order are being sent to the applicants viz. I Tenable India (Private) Ltd (formerly known as I Tenable India Ltd.), Mr. Nirmal Kumar Gangwal, Ms. Neelam Gangwal, Nirmal Gangwal (HUF) and Brescon Consultabts Private Ltd.
4. The High Powered Advisory Committee (HPAC) in its meeting held on May 30, 2016, considered the settlement terms proposed by the applicant and recommended the case for settlement upon payment of Rs.2,00,000 (Rupees Two Lakhs only) towards settlement charges and the same was approved by the Panel of Whole Time Members. Thereafter, the same was communicated to the applicant, vide email dated August 19, 2016.
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Source: SecMarx — sebi:CO/EFD/DRA3/97/September/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.