sebi:CO/IVD-7/11042/211/2009

SEBI · SEBI · 2008-11-04 · M. S. Sahoo, Whole Time Member; K. M. Abraham, Whole Time Member

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Facts / Headnote

Consent order disposing of pending 11B proceedings against the applicant

Parties

• IT Microsystems (India) Ltd

Holding

SEBI passed a consent order disposing of the pending Section 11B proceedings against the applicant in the matter of IT Microsystems (India) Ltd, requiring payment of Rs. 25,000 towards settlement charges and voluntary debarment from the securities market for one year.

Full text

Page 2 of 3 3. While the above proceedings were in progress, the applicant, vide letter dated November 04, 2008, proposed settlement of the said proceedings through a consent order in terms of circular No. EFD/ED/Cir-1/2007 dated April 20,

Page 3 of 3 7. A Copy of this order shall be served on all recognized Stock Exchanges and Depositories to ensure that the applicant is not allowed to buy, sell or deal in securities market, whether directly or indirectly, for a period of one year from April 28, 2009.

2007. It proposed revised consent terms vide letter dated December 12, 2008. The High Powered Advisory Committee, constituted by SEBI, considered the consent terms proposed by the applicant and recommended the case for settlement. Accordingly, the applicant shall pay Rs. 25,000/- (Rupees twenty five thousand only) towards settlement charges and undergo voluntary debarment from buying, selling or dealing in the securities market, whether directly or indirectly, for a period of one year. SEBI accepted the said recommendation and communicated the same to the applicant vide letter dated March 23, 2009.

Source: SecMarx — sebi:CO/IVD-7/11042/211/2009. 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.