sebi:CO/IVD/1533/AO/SD/16/2009
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Facts / Headnote
Adjudication proceedings disposed of by consent settlement on payment of Rs. 1,50,000
Holding
This consent order disposes of the pending adjudication proceedings against the noticee under the SEBI Act, 1992 in the matter of M/s Cranes Software International Limited upon payment of Rs. 1,50,000 without admission or denial of guilt.
Full text
Page 2 of 3 only) towards consent terms in the present matter. The terms as proposed by the noticee were placed before the High Powered Advisory Committee (HPAC) meeting held on February 25, 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. 1,50,000/- (Rupees One Lakh Fifty Thousand only) which has been approved by the Committee of Members vide RNI 249/2009 dated March 18, 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. 1,50,000/- (Rupees One Lakh Fifty Thousand only), vide Demand Draft no. 258744 dated March 28, 2009 drawn on Bank of India, towards the terms of consent in the matter.
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Source: SecMarx — sebi:CO/IVD/1533/AO/SD/16/2009. 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.