sebi:CO/IVD1/1025/179/2009
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Facts / Headnote
Proceedings disposed of by consent order
Provisions invoked
- s. 11B
Parties
- Shri Samir N Shah
Holding
This consent order disposes of the Section 11B proceedings pending before SEBI against the applicant in the matter of Database Finance Limited on payment of Rs.50,000 and a six-month restraint from dealing in securities.
Full text
Page 2 of 3 proceedings through a consent order in terms of SEBI circular no. EFD/ED/Cir-1/2007 dated April 20, 2007. The High Powered Advisory Committee, constituted by SEBI, considered the consent terms proposed by the applicant and after deliberations, recommended the case for settlement. Accordingly the applicant shall pay a sum of Rs.50,000/- (Rupees fifty thousand only) towards the settlement charges and shall not buy, sell or deal in securities for a period of six months. The said terms of settlement were accepted by SEBI and communicated to the applicant vide letter dated February 10, 2009.
Page 3 of 3 b. the applicant breaches any of the consent terms or undertakings filed in this consent proceeding. 7. A copy of this order shall be sent to all recognized stock exchanges and depositories to ensure that the applicant i.e. Shri Samir N Shah, Room No.10, 3rd Floor, Dindaisy Bldg., Girgaum Gaiwadi, Mumbai:- 400 004, (PAN AJWPS1054R) does not buy, sell or deal in securities, directly or indirectly, for a period of six months from the date of this
4. Accordingly, the applicant, without admitting or denying the charges, has remitted a sum of Rs.50,000/- (Rupees fifty thousand only) vide demand draft No. 027305 dated 19.02.2009 drawn on Axis Bank Limited, payable at Mumbai. Further, the applicant, vide letter dated February 19, 2009, has undertaken not to buy, sell or deal in securities for a period of six months.
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Source: SecMarx — sebi:CO/IVD1/1025/179/2009. 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.