sebi:CO/ISD/1221/2/2008
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Facts / Headnote
Disposed of by consent on payment of settlement amount
Provisions invoked
- s. 11B
Holding
The proceedings under Sec. 11B, 11(4)(b) and 11(D) of the SEBI Act, 1992 against the applicant in the matter of M/s. Ballarpur Industries Ltd. are disposed of by this consent order.
Full text
January 17, 2008 submitting that pursuant to their application dated October 23, 2007, without admitting or denying any charge, they propose to offer Rs. 1,00,000/- (Rs. One Lac only) towards the consent terms in the matter. The revised consent terms proposed by the applicant have been placed before the High Powered Advisory Committee (HPAC) and HPAC, after deliberation, has recommended the case for settlement on the consent terms proposed by the applicant.
4. In terms of the proposal for the sole purpose of settling the matter on hand and without admission or denial of guilt on the part of the applicant to the finding of fact or conclusion of law, applicant has remitted a sum of Rs.1,00,000 (Rupees One Lac only) vide Demand Draft No. 047618 dated March 7, 2008 drawn on Axis Bank Limited, Mumbai.
5. In view of the above, it is hereby ordered that i) this consent order disposes of the said proceedings under Sec. 11B, 11(4)(b) and 11(D) of the SEBI Act, 1992 pending before SEBI against the applicant in the matter of M/s. Ballarpur Industries Ltd. and ii) passing of this order by SEBI is without prejudice to the right of SEBI to take enforcement action against the applicant if SEBI finds that any representations made by the applicant in the consent proceedings are subsequently discovered to be untrue.
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Source: SecMarx — sebi:CO/ISD/1221/2/2008. 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.