sebi:CO/IVD-ID-1/936/AO/SD/15/2009
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Facts / Headnote
Consent order settling adjudication proceedings on payment of Rs. 10,00,000/- as settlement charges
Parties
- M/s Religare Securities Limited
Holding
The adjudication proceedings against M/s Religare Securities Limited, initiated by Show Cause Notice No. EAD/SD/PM/130135/2008 dated June 27, 2008, are settled and disposed of upon payment of Rs. 10,00,000/- as settlement charges, without admission or denial of guilt.
Full text
Page 2 of 3 2. For this Adjudication proceedings Show Cause Notice bearing No. EAD/SD/PM/130135/2008 dated June 27, 2008 was issued by the Adjudicating Officer under Rule 4 of the Adjudication Rules.
Page 3 of 3 (a) this consent order disposes of the said adjudication proceedings pending against the Noticee Viz. M/s Religare Securities Limited under the Securities and Exchange Board of India Act, 1992 and
3. Further, pending the adjudication proceedings, the Noticee had filed the application for consent proceedings vide the Consent Application dated August 18, 2008 and an affidavit of “Undertakings and Waivers” in the aforesaid matter in terms of SEBI Circular No. EFD/ED/Cir-1/2007 dated 20th April, 2007 and proposed to pay Rs. 1,00,000/- (Rupees One Lakh only) towards settlement charges of the above said adjudication proceedings. The Noticee thereafter proposed revised consent proposal vide letter dated January 10, 2009 & proposed to offer Rs. 10,00,000/- (Rs. Ten Lakhs Only) as settlement charges. The revised consent terms as proposed by Noticee were placed before the High Powered Advisory Committee (HPAC) meeting held on February 03, 2009 and after considering the
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Source: SecMarx — sebi:CO/IVD-ID-1/936/AO/SD/15/2009. 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.