sebi:CO/ISD/1138/AO/PKB/33/2009
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Disposed by consent - adjudication proceedings disposed
Parties
- M/s. Madras Cements Ltd.
Holding
The adjudication proceedings against M/s. Madras Cements Ltd. under the SEBI Act, 1992 were disposed of by consent upon payment of Rs. 1,00,000 towards settlement and Rs. 25,000 towards administrative expenses, without admission or denial of guilt.
Full text
Consent Order in respect of M/s. Madras Cements Ltd. Page 2 of 3 22/04/2009 for settlement in the matter in terms of SEBI Circular No. EFD/Cir.-1/2007 dated 20th April, 2007. Pursuant to the said application, the Noticee vide letter dated February 16, 2009 proposed revised consent terms submitting that it was willing to pay Rs. 1,00,000/- (Rupees One Lakh only) towards settlement terms and Rs. 25,000/- (Rupees Twenty Five Thousand Only) towards administrative expenses. The terms as proposed by the Noticee were placed before the High Powered Advisory Committee (HPAC) on March 12, 2009 and HPAC after deliberation recommended the case for settlement on the revised consent terms proposed by the Noticee.
Consent Order in respect of M/s. Madras Cements Ltd. Page 3 of 3 22/04/2009 8. In terms of Rule 6 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995, copies of this order are sent to M/s. Madras Cements Ltd. and also to the Securities and Exchange Board of India.
5. In terms of the proposal of the Noticee for the sole purpose of settling the matter on hand and without admission or denial of guilt on the part of the Noticee to the finding of fact or conclusion of law, the Noticee has remitted a sum of Rs. 1,00,000/- (Rupees One Lakh only) favouring Securities and Exchange Board of India vide Demand Draft No. 878803 dated April 17, 2009 drawn on HDFC Bank, Mumbai and Rs. 25,000 (Rupees Twenty Five Thousand only) favouring Securities and Exchange Board of India vide Demand Draft No. 878804 dated April 17, 2009 drawn on HDFC Bank Ltd., Mumbai towards the terms of consent in the matter.
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/ISD/1138/AO/PKB/33/2009. 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.