sebi:CO/MIRSD/1148/13/08
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Facts / Headnote
Enquiry proceedings disposed of by consent; interim prohibition vacated
Holding
The enquiry proceedings against the applicant in the matter of inspection of M/s. Galaxy Broking Ltd. were disposed of on consent payment of Rs. 1,00,000 without admission or denial of guilt, and the prohibition imposed vide interim order dated January 24, 2006 was vacated.
Full text
a. Agreeable to pay an amount of Rs. 1,00,000/-(Rupees one lac only) b. The suspension of Galaxy Broking Limited from trading and debarment w.e.f 24/01/2006 on the clients viz. Anil A. Gandhi, Amrutlal J. Gandhi, Sudha Amrutlal Gandhi, Priti Anil Gandhi, Pooja Anil Gandhi, Amrut Securities Ltd and Manish Ashar may be reckoned with and accordingly the interim order may be vacated.”
3. The consent terms proposed by the applicant were placed before the High Powered Advisory Committee (HPAC) and HPAC after deliberation recommended the case for settlement on payment of Rs. 1,00,000 (Rupees one lakh only) by the applicant.
4. In terms of the applicant’s proposal for the sole purpose of settling the matter on hand and without admission or denial of guilt on the part of the applicant to the finding of fact or conclusion of law, applicant has remitted a sum of Rs.1,00,000/- (Rupees One lakh only) vide Demand Draft No. 679421 dated 07.12.2007 drawn on Union Bank of India, Mumbai, towards the terms of consent in the matter.
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Source: SecMarx — sebi:CO/MIRSD/1148/13/08. 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.