sebi:CO/IVD-ID-8/1615/AO/SD/09/2009
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Facts / Headnote
Adjudication proceedings disposed of via consent settlement on payment of settlement charges
Parties
- M/s Farsight Brokers Pvt. Ltd.
Holding
This consent order disposes of the adjudication proceedings pending against M/s Farsight Brokers Pvt. Ltd. under the Securities and Exchange Board of India Act, 1992 on payment of Rs. 1,00,000 towards settlement charges without admission or denial of guilt.
Full text
Page 2 of 3 April 02, 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 vide letter dated 25th September, 2008. The terms as proposed by Noticee were placed before the High Powered Advisory Committee (HPAC) meeting held on December 01, 2008 and after considering the facts and circumstances of the case, the HPAC recommended that the case may be settled on payment of Rs. 1,00,000/- (Rupees One Lakh only) towards settlement charges which has been approved by the panel of Whole Time Members of SEBI on 11th December, 2008.
Page 3 of 3 (b) passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing/ reopening of the pending proceedings against the Noticee, if SEBI finds that
4. In terms of 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, Noticee has remitted a sum of Rs. 1,00,000/- (Rupees One Lakh only), vide Four Demand Drafts of Rs 25,000/- (Rupees Twenty Five Thousand only) each bearing Nos. 008089, 008090, 008101 and 008105 dated December 30,2008, December 31,2008, January 01, 2009 and January 02,2009 respectively drawn on Axis Bank Ltd., Mumbai towards the settlement charges in the aforesaid matter.
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Source: SecMarx — sebi:CO/IVD-ID-8/1615/AO/SD/09/2009. 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.