sebi:EAD-2/AO/DSR/BKM/570-576/2016
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Facts / Headnote
Settlement order disposing of adjudication proceedings initiated against the noticees vide the common show cause notice dated April 15, 2015, on payment of Rs. 2,00,000/- towards settlement charges.
Regulations
- Reg. 199
- Reg. 17
- Reg. 8(3)
- Reg. 15(1)
Holding
The adjudication proceedings initiated against the noticees vide the common show cause notice dated April 15, 2015 are disposed of pursuant to settlement on payment of Rs. 2,00,000/- towards settlement charges. However, the adjudication proceedings against MEL remain pending.
Full text
Page 2 of 3 of SAST Regulations, 2011 and Regulation 8(3) of SAST Regulations 1997 respectively. 3. Pending adjudication proceedings, the noticees submitted a Joint Application for Settlement dated May 16, 2015 and an undertaking in the format prescribed by SEBI in terms of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014. (hereinafter referred to as ‘Settlement Regulations’).
Page 3 of 3 7. This order is without prejudice to the right of SEBI to take enforcement actions including commencing/ reopening of the pending proceedings against the Applicants, if SEBI finds that:
4. Pursuant to the said settlement application, the Authorized Representatives attended the IC meeting on June 16, 2016 on behalf of the noitcees. The revised settlement terms as proposed by the noticees were placed before the High Powered Advisory Committee (HPAC) in its meeting held on July 04,
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Source: SecMarx — sebi:EAD-2/AO/DSR/BKM/570-576/2016. 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.