sebi:CO/IVD-NRO/436/214/2009
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Facts / Headnote
Consent order disposing of prosecution proceedings proposed by SEBI against the Applicant in the matter of Manu Finlease Limited on payment of Rs.6,00,000/- towards settlement charges.
Provisions invoked
- s. 24
Holding
SEBI accepted the consent terms proposed by the Applicant and disposed of the proposed prosecution proceedings against Manu Finlease Limited on payment of Rs.6,00,000/- towards settlement charges.
Full text
…2 2 of the said order. Thereafter, SEBI issued a demand notice dated 09.05.2007 calling upon the Applicant to pay the penalty within fifteen days from the date of the receipt of the notice failing which prosecution proceedings under Section 24 (2) of SEBI Act, 1992 would be initiated against it. The Applicant failed to pay the penalty within the stipulated period.
…3 3 6. This order is without prejudice to the right of SEBI to initiate enforcement actions, including commencing or reopening of the proceedings pending against Applicant, if: a. any representation made by the Applicant in this consent proceeding is subsequently discovered to be untrue; or
3. While further proceedings in the matter were in progress, the Applicant, vide the application dated 04/01/2008, proposed settlement of the prosecution proceedings proposed by SEBI through a consent order in terms of SEBI circular No. EFD/ED/Cir-1/2007 dated 20/04/2007. Vide letter dated 05/09/2008, it proposed revised consent terms by offering an amount of Rs.5,50,000/- and forwarded a Demand Draft No. 045683 dated 05/09/2008 for an amount of Rs.5,50,000/- drawn on Union Bank of India payable at Mumbai. Vide letter dated 16/12/2008, it further revised the consent terms offering to pay an additional amount of Rs.50,000/-. Accordingly, Vide letter dated 24/01/2009, it forwarded a Demand Draft No. 046113 dated 24/01/2009 for an amount of Rs.50,000/- drawn on Union Bank of India payable at Mumbai.
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Source: SecMarx — sebi:CO/IVD-NRO/436/214/2009. 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.