sebi:CO/ID2/209/2009
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Facts / Headnote
Proceedings disposed of by consent settlement with payment and six-month debarment
Parties
- Tarai Foods Limited
- Shri G. S. Sandhu
Holding
This consent order disposes of the proceedings listed in para 3 above against Tarai Foods Limited and Shri G. S. Sandhu, and orders that they shall not buy, sell or deal in securities in any manner for six months from 27th April, 2009.
Full text
Page 2 of 2 4. Thereafter, the applicants jointly offered revised consent terms for the abovesaid three applications vide letter dated December 15, 2008. The High Powered Advisory Committee constituted by SEBI considered the consent terms proposed by the applicants and recommended that the matter may be settled if the applicants are agreeable to pay Rs.5,12,000/- towards settlement charges and Rs.25,000/- towards administrative charges and to suffer voluntary debarment from buying, selling or dealing in the securities market, whether directly or indirectly, for a period of six months. SEBI accepted the said recommendations and communicated the same to the applicants vide letter dated March 20, 2009.
5. Accordingly, the applicants, without admitting or denying the charges, have remitted Rs.5,12,000/- towards settlement charges and Rs.25,000/- towards administrative
charges vide demand draft No.028675 dated March 26, 2009 drawn on Axis Bank Ltd., Mumbai payable at Mumbai. They have also undertaken to suffer voluntary debarment from buying, selling or dealing in the securities market, whether directly or indirectly, for a period of six months.
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Source: SecMarx — sebi:CO/ID2/209/2009. 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.