sebi:CO/IVD/1722/AO/SD/14/2009
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Facts / Headnote
adjudication proceedings disposed of by consent settlement on payment of settlement charges
Holding
This consent order disposes of the adjudication proceedings pending against the noticee under the SEBI Act, 1992 in the matter of M/s Karuturi Networks Ltd. on payment of Rs. 2,00,000 towards settlement charges without admission or denial of guilt.
Full text
Page 2 of 3 matter. The terms as proposed by the noticee were placed before the High Powered Advisory Committee (HPAC) meeting held on January 20, 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. 2,00,000/- (Rupees Two Lakh only) towards settlement charges, which has been approved by the Committee of Members vide RNI 166/2009 dated February 17, 2009.
Page 3 of 3 This consent order is passed on the 12th day of March, 2009 and shall come into force with immediate effect.
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. 2,00,000/- (Rupees Two Lakh only), vide Demand Draft no. 011051 dated February 27, 2009 drawn on Axis Bank Ltd., towards the terms of consent in the matter.
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Source: SecMarx — sebi:CO/IVD/1722/AO/SD/14/2009. 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.