sebi:CO/IVD/1162/AO/SD/20/2009
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Facts / Headnote
Consent order disposing of pending adjudication proceedings against the noticee on payment of Rs. 7,00,000/- towards settlement charges.
Parties
- M/s Jindal Stainless Limited
Holding
The adjudication proceedings pending against M/s Jindal Stainless Limited under the SEBI Act, 1992 are disposed of pursuant to the consent terms, on payment of Rs. 7,00,000/- towards settlement charges, without admission or denial of guilt.
Full text
Page 2 of 3 “Undertakings and Waivers” in the matter in terms of SEBI Circular No. EFD/ED/Cir-1/2007 dated April 20, 2007. Pursuant to the said application, the noticee vide letter dated September 25, 2008 had proposed to pay Rs. 7,00,000/- (Rupees Seven Lakh only) towards settlement charges in the present matter. The terms as proposed by the noticee were placed before the High Powered Advisory Committee (HPAC) meeting held on March 12, 2009 and after considering the facts and circumstances of the case, consent terms offered by the noticee and material put forth before the HPAC by SEBI, the HPAC recommended that the case may be settled on payment of Rs. 7,00,000/- (Rupees Seven Lakh only) towards settlement charges, which has been approved by the Committee of Members vide RNI 324/2009 dated April 1, 2009.
Page 3 of 3 I. any representations made by the noticee in the consent proceedings are subsequently discovered to be untrue.
3. In terms of the noticee’s proposal 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. 7,00,000/- (Rupees Seven Lakh only), vide Demand Draft no. 067865 dated May 6, 2009 drawn on HDFC Bank, towards the terms of consent in the matter.
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Source: SecMarx — sebi:CO/IVD/1162/AO/SD/20/2009. 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.