sebi:CO/MIRSD/DRA-PD/197/2009
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Facts / Headnote
Enquiry proceedings disposed of by consent settlement on payment
Holding
This consent order disposes of the enquiry proceedings pending before SEBI against the applicant upon remittance of Rs. 10,00,000 as settlement charges and Rs. 1,00,000 as administrative charges, without admission or denial of guilt.
Full text
Page 2 of 3 various circulars issued by SEBI. A show cause notice dated January 16, 2008 was issued to the applicant. It replied to the show cause notice vide letter dated February 08, 2008 It was also granted personal hearings on April 09, 2008 and on April 29, 2008.
Page 3 of 3 6. This order is without prejudice to the rights of SEBI to take enforcement actions, including commencing or reopening pending proceedings against the applicant, if: i. any representation made by the applicant in this consent proceeding is subsequently discovered to be untrue; or ii. the applicant breaches any of the clauses/conditions of undertakings/ waivers filed during this consent proceeding.
3. While further proceedings in the matter were in progress, the applicant, vide letter dated June 14, 2008, proposed settlement of the proceedings through a consent order in terms of SEBI Circular No. EFD/ED/Cir- 1/2007 dated April 20, 2007. The applicant proposed revised terms of consent vide letter dated September 17, 2008. The High Powered Advisory Committee, constituted by SEBI, considered the terms proposed by the applicant and recommended the case for settlement. As per the terms of settlement, the applicant shall pay Rs. 10,00,000/- (Rupees ten lakh only) as settlement charges and Rs. 1,00,000 (Rupees one lakh only) as administrative charges. SEBI accepted the said terms of settlement and communicated the same to the applicant. .
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Source: SecMarx — sebi:CO/MIRSD/DRA-PD/197/2009. 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.