sebi:EAD-2/DSR/RG/857/2017
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Facts / Headnote
Adjudication proceedings disposed of by settlement
Regulations
- Reg. 17
- Reg. 15(1)
Holding
The adjudication proceedings initiated against the Noticee vide SCN dated March 03, 2017 are disposed of in terms of Regulation 15(1) upon payment of settlement charges of Rs. 5,73,750.
Full text
Page 2 of 3 prescribed under the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (hereinafter referred to as the Settlement Regulations) without admission of facts and conclusions of law.
Page 3 of 3 ii. The Noticee has breached any of the clauses / conditions of the undertakings / waivers filed during the current settlement proceeding.
4. Pursuant to the said Settlement Application, the Noticee attended the Internal Committee (IC) meeting on August 11, 2017 wherein the settlement terms were deliberated. Thereafter, vide letter dated August 16, 2017, the Noticee proposed the revised settlement terms to settle the defaults mentioned above. The settlement terms as proposed by the Noticee were placed before the High Powered Advisory Committee (HPAC) in its meeting held on September 04, 2017. After considering the facts and circumstances of the case, the HPAC recommended that the settlement application may be settled on payment of the `5,73,750/- (Rupees Five Lakh Seventy Three Thousand Seven Hundred and Fifty Only)towards settlement charges which were approved by the panel of the Whole Time Members, SEBI on October 10, 2017.
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Source: SecMarx — sebi:EAD-2/DSR/RG/857/2017. 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.