sebi:CO/ID-8/1203/AO/VSS/39/2009
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Facts / Headnote
Disposed of by consent on payment of settlement charges
Holding
This consent order disposes of the pending proceedings against the Noticee under the Securities and Exchange Board of India Act, 1992 upon payment of Rs.2,00,000 towards settlement charges.
Full text
Page 2 of 2 waivers, submitting that he was willing to pay a sum of Rs.2,00,000/- (Rupees two lakh only). The terms as proposed by the Noticee was placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on December 24, 2008. The HPAC 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.2,00,000/- (Rupees two lakh only) towards settlement charges. 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. In pursuance of the aforesaid consent terms, the Noticee has remitted a sum of Rs.2,00,000/- (Rupees two lakh only), vide Demand Draft No.510335 dated February 9, 2009 drawn on Axis Bank Ltd., Mumbai, 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/ID-8/1203/AO/VSS/39/2009. 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.