sebi:EAD/JS/SP/1-10/2017
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Facts / Headnote
Pending adjudication proceedings under SCN dated April 29, 2016 disposed of in terms of regulation 15(1) of the Settlement Regulations upon payment of settlement charges
Regulations
- Reg. 17
- Reg. 15(1)
Parties
- Velan Hotels Ltd.
Holding
The pending adjudication proceedings initiated against the Applicants under the SCN dated April 29, 2016 are disposed of in terms of regulation 15(1) of the Settlement Regulations following acceptance of settlement terms and receipt of settlement charges.
Full text
Settlement Order in the matter of Velan Hotels Ltd. Page 2 of 2 Rs. 27,62,500/- (Rupeees Twenty Seven Lakh Sixty Two Thousand and Five Hundred Only) and the same was communicated to the applicant vide email dated October 11, 2017.
5. The applicant vide Demand Draft no. 622510 dated October 23, 2017 drawn on Canara Bank have remitted of Rs. 27,62,500/- (Rupeees Twenty Seven Lakh Sixty Two Thousand and Five Hundred Only) towards the settlement charges.
6. Now, in view of the acceptance of the settlement terms as proposed by the Applicants and upon receipt of aforesaid Demand Draft by SEBI, the pending adjudication proceedings initiated against the Applicants, under the aforesaid SCN dated April 29, 2016, is hereby disposed of in terms of regulation 15(1) of the Settlement Regulations. It is hereby ordered that:
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Source: SecMarx — sebi:EAD/JS/SP/1-10/2017. 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.