sebi:CO/IVD1/1768/212/2009
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Facts / Headnote
Consent order disposing of enquiry proceedings against the applicant in the matter of Database Finance Limited
Parties
- Database Finance Limited
Holding
SEBI accepted the consent terms proposed by the applicant and passed a consent order disposing of the enquiry proceedings pending before the Enquiry Officer against the applicant in the matter of Database Finance Limited, on payment of Rs.7,00,000 towards settlement charges.
Full text
Page 2 of 3 3. While the above proceedings were in progress, the applicant, vide letter dated June 02, 2008, proposed settlement of the said proceedings through a consent order in terms of SEBI circular No. EFD/ED/Cir-1/2007 dated April 20, 2007. It proposed the revised consent terms vide letter dated February 13, 2009. 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.7,00,000 (Rupees seven lakh only) towards settlement charges. SEBI accepted the said terms of settlement and communicated the same to the applicant vide letter dated April 13, 2009.
Page 3 of 3 b. the applicant breaches any of the consent terms or undertakings filed in this consent proceedings. 7. This consent order is passed on this day, the 28th of April, 2009 and shall come into force with immediate effect.
4. Accordingly, the applicant has without admitting or denying the charges, remitted a sum of Rs.7,00,000 (Rupees seven lakh only) vide demand draft No. 501811 dated April 22, 2009 drawn on ICICI Bank Ltd. payable at Mumbai.
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Source: SecMarx — sebi:CO/IVD1/1768/212/2009. 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.