sebi:CO/MIRSD-DPS-I/1938/AO/VSS/64/2009
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Facts / Headnote
Consent terms accepted; proceedings disposed of on payment of Rs.90,000 towards settlement charges and Rs.10,000 towards administrative charges
Holding
The consent order disposes of the proceedings pending against the Noticee under the SEBI Act, 1992, on payment of Rs.1,00,000 (Rs.90,000 settlement charges and Rs.10,000 administrative charges) as recommended by the HPAC and agreed to by two Whole Time Members of the Board.
Full text
Page 2 of 2 proposed by the Noticee were placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on February 3, 2009. The HPAC
considered the facts and circumstances of the case, consent terms offered by the Noticee and the material brought before it by SEBI and recommended that the case may be settled on payment of Rs.90,000/- (Rupees ninety thousand only) towards settlement charges and Rs.10,000/- (Rupees ten thousand) towards administrative charges in the matter. The recommendations of HPAC were placed before the two Whole Time Members of the Board who have agreed to the terms of consent as recommended by HPAC.
3. The acceptance of consent proposal was communicated to the Noticee vide letter dated March 6, 2009. In pursuance of the aforesaid consent terms, the Noticee has remitted a sum of Rs.1,00,000/- (Rupees one lakh only), vide two Demand Drafts, (i) Draft No. 046482 dated March 9, 2009 drawn on HDFC Bank Ltd., Mumbai for Rs.90,000/- and (ii) Draft No. 046483 dated March 9, 2009 drawn on HDFC Bank Ltd., Mumbai for Rs.10,000/- towards the terms of consent in the matter.
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Source: SecMarx — sebi:CO/MIRSD-DPS-I/1938/AO/VSS/64/2009. 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.