sebi:CO/ISD/1563/22/2008
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Facts / Headnote
Consent disposal of Ex parte ad interim Order dated April 27, 2006 directions against the applicant on payment of settlement amount, without admission or denial of guilt
Holding
This consent order disposes of the directions in the Ex parte ad interim Order dated April 27, 2006 against the applicant in the IPO irregularities matter upon remittance of Rs.16,998. Separate orders will dispose of the adjudication proceedings.
Full text
2 Thousand Four Hundred and Ninety Eight only) being the notional undue gain which is to be disgorged from the applicant and Rs.2, 500/- (Rupees Two Thousand Five Hundred only) as settlement charges. The said terms of settlement were communicated to the applicant vide letter dated July 4, 2008.
4. In terms of the applicant’s 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, the applicant has remitted a sum of Rs.16, 998/- (Rupees Sixteen Thousand Nine Hundred and Ninety Eight only) vide Demand Draft No.509719 dated July 8, 2008 drawn on Kotak Mahindra Bank, Mumbai towards the terms of the consent in the matter.
5. In view of the above, it is hereby ordered that: i) this consent order disposes of directions in the Ex parte ad interim Order dated April 27, 2006 passed by SEBI to the extend such directions are against the applicant in the matter of investigations in IPO irregularities and ii) passing of this order by SEBI is without prejudice to the right of SEBI to take enforcement action including commencing / reopening of the pending proceedings against the applicant, if SEBI finds that ; a. any representations made by the applicant in the consent proceedings are subsequently discovered to be untrue. b. the applicant has breached any of the clauses / conditions of undertakings/waivers filed during the current consent proceedings.
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Source: SecMarx — sebi:CO/ISD/1563/22/2008. 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.