sebi:EAD/AO/PJ/20/2016
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Facts / Headnote
Adjudication proceedings disposed of by consent settlement
Regulations
- Reg. 17
- Reg. 15
Holding
The pending adjudication proceedings against the Applicant are disposed of by this Consent Order upon payment of Rs. 2,61,375 towards settlement charges.
Full text
HPAC, SEBI has in principle agreed to accept the terms of the consent proposed by the Applicant as approved by Panel of WTM and HPAC. Accordingly, the applicant vide demand draft No. '719622' dated 20.09.2016 drawn on ‘HDFC Bank Limited' and payable at Mumbai, remitted a sum Rs. 2,61,375/- (Rupees Two lakh sixty one thousand three hundred and seventy five only) towards the settlement charges.
6. In view of the above, in terms of Regulation 15 (1) of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 it is hereby ordered that: 6.1. this Consent Order disposes of the said Adjudication Proceedings pending in respect of the Applicant as mentioned in para (3) above and; 6.2. passing of this Order is without prejudice to the right of SEBI to take enforcement actions including commencing / reopening of the pending proceedings against the Applicant, if SEBI finds that: 6.2.1. any representations made by the Applicant in the consent proceedings are subsequently discovered to be untrue. 6.2.2. the Applicant have breached any of the clauses / conditions of undertakings / waivers filed during the current consent proceedings.
7. This consent order is passed on the 21st day of October, 2016 and shall come into force with immediate effect. 8. In terms of Regulation 17 of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014, copy of this order are being sent to the Applicant and also to Securities and Exchange Board of India, Mumbai.
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Source: SecMarx — sebi:EAD/AO/PJ/20/2016. 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.