sebi:CO/ISD/1930/AO/VSS/61/2009
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Facts / Headnote
Consent order disposing of pending proceedings against the Noticee under the Securities and Exchange Board of India Act, 1992, on payment of Rs.25,000 towards settlement terms and Rs.10,000 towards administrative expenses.
Holding
The proceedings pending against the Noticee under the SEBI Act, 1992 are disposed of pursuant to the consent terms, on payment of Rs.35,000 (Rs.25,000 settlement terms and Rs.10,000 administrative expenses). The order is passed without prejudice to SEBI's right to take enforcement action if representations are found untrue or undertakings/waivers are breached.
Full text
Page 2 of 3 undertakings and waivers, submitting that it was willing to pay a sum of Rs.25,000/- (Rupees Twenty Five Thousand only). Vide letter dated January 27, 2009 the Noticee proposed to pay Rs.25,000/- (Rupees Twenty Five Thousand only) towards settlement terms and Rs.10,000/- (Rupees Ten Thousand only) towards administrative expenses. The consent terms as proposed by the Noticee was placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on February 25,
Page 3 of 3 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.
2009. 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.25,000/- towards settlement terms and Rs.10,000/- towards administrative expenses. 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.
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Source: SecMarx — sebi:CO/ISD/1930/AO/VSS/61/2009. 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.